The special framework covering the operation of Real Estate Investment Companies (R.E.I.C.) differs from the usual under which the majority of the Greek businesses operate.
Because of this, it is not considered safe to assess the creditworthiness of these companies through the standard methodology already developed and used by ICAP.
Thus, it was considered necessary to develop and apply a specialized methodology for the assignment of Credit Ratings to Greek R.E.I.Cs,
tailored to their specific characteristics, in order to ensure the principles of integrity, reliability, transparency and independence.
Pursuant to the requirements of the amended Regulation 1060/2009 on Credit Rating Agencies, the methodology was set under a one-month public consultation. During this consultation period there has been no intervention from the interested parties.
The methodology enters into force and you can see the basic principles by clicking here.