Credit Rating Agency UK Market Share Report for 2022

In view of Article 8d of the Retained Credit Rating Agencies Regulation (UK CRAR) which mandates that
1. issuers in UK that rely on two or more credit rating agencies (CRAs) for their rating shall use one CRA that has no more than 10% market share in the UK (if not, they have to document the reasons as to why they did not choose such CRA) and
2. the Financial Conduct Authority (FCA) yearly publishes a report on CRA market shares to facilitate compliance with (a),
the Authority has now published a report on the proportions of total market share of UK credit rating agencies in 2022. The market shares were thereby calculated based on the total annual turnover at UK group level as indicated in the fee notification that had to be submitted by credit rating agencies following year end 2022. The market shares are as follows:
Table 1 – Market Share