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Since 30 July 2012, the EUROPEAN RATING AGENCY, a.s. is a registered credit rating agency in accordance with Regulation no. 1060/2009 of the European Parliament and the Council (EC) of 16 September 2009 on credit rating agencies. The currently valid (outstanding) ratings issued before the date of registration are monitored by EUROPEAN RATING AGENCY, a.s. as a registered credit rating agency since the date of registration.



ERA affirms AA- rating to the Czech Republic, outlook Stable
Friday, 26 July 2019

The unsolicited credit rating assigned to the Czech Republic stems from fiscal surpluses, low debt, and high foreign exchange coverage ratios. Governance indicators, which are significantly above average on the world scale, also support the final assessment. However, their score lags behind the leading advanced economies and therefore constrains the final rating.

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ERA affirms BB rating to Turkey, outlook Stable
Friday, 12 July 2019

The unsolicited credit rating assigned to Turkey stems from sizable imbalances in the external and corporate sector, economic instability, high inflation, and a below average score in governance indicators, which are also demonstrated by concerns about the independence of the central bank. The assessment is positively affected by relatively low government debt levels.

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ERA affirms unsolicited rating A- to STROPKOV, outlook Stable
Friday, 07 June 2019

The affirmation of the unsolicited credit rating of Stropkov stems from changes in the evaluation of key assessment indicators according to ERA's new Methodology, where greater importance is placed on debt, liquidity profile, and operating balance indicators. With floating weights, higher weight is assigned to debt and liquidity indicators when exceeding the deterioration limit values.

The rating assigned to the city of Stropkov remains unchanged and is mainly based on a positive assessment of very low indebtedness and the low probability of its increase in the outlook for the next 2-3 years, the high level of the short-term liquidity indicator, and the sufficient level of current balance surpluses.

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ERA affirms unsolicited rating BBB+ to DUNAJSKÁ STREDA, outlook Stable
Friday, 07 June 2019

The affirmation of the unsolicited credit rating of Dunajská Streda stems from changes in the evaluation of key assessment indicators according to ERA's new Methodology, where greater importance is placed on debt, liquidity profile, and operating balance indicators. With floating weights, higher weight is assigned to debt and liquidity indicators when exceeding the deterioration limit values.

The rating assigned to the city of Dunajská Streda remains unchanged and is mainly based on a positive assessment of high liquidity levels and operating balance surpluses. In the debt profile, the lower assessment is based on the results of the debt burden analysis, where ERA has lowered the scoring because of deterioration in the debt outlooking indicators.

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ERA downgrades the unsolicited credit rating of SKALICA to BBB-, outlook Stable
Friday, 31 May 2019

The downgrade of the unsolicited credit rating of Skalica stems from changes in the evaluation of key assessment indicators according to ERA's new Methodology, where greater importance is placed on debt, liquidity profile, and operating balance indicators. With floating weights, higher weight is assigned to debt and liquidity indicators when exceeding the deterioration limit values.

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