+Article 8 7.

Article 8 7.

Where a credit rating agency becomes aware of errors in its rating methodologies or in their application it shall immediately:

(a) 

notify those errors to ESMA and all affected rated entities explaining the impact on its ratings including the need to review issued ratings;

(b) 

where errors have an impact on its credit ratings, publish those errors on its website;

(c) 

correct those errors in the rating methodologies; and

(d) 

apply the measures referred to in points (a), (b) and (c) of paragraph 6.

1. Overview

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1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards