Enhancing Capital Markets

The Credit Rating Agency Association (CRAA) represents rating agencies across the globe by providing education and advocacy.
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Member Benefits

Accomplish better advocacy outcomes

Credit rating agencies (CRAs) provide an independent assessment of the risk level of various investments, thereby providing transparency and enhanced access to capital.

Insight

Our market updates share developments (primarily in the U.S.) that affect CRAs.

Access

We help arrange advocacy meetings with parties who oversee CRAs.

Advocacy

We augment the voice of CRA members by supporting the stances you take.
Organization

Designed to maximize impact

Credit rating agencies (CRAs) are essential participants in the global capital market by providing an assessment of the probability of default (or estimated loss), thereby making it easier for issuers to attract capital.

Regional representatives

Each key geographic region will have a lead representative and a substitute to provide geography-specific guidance.

Steering committee

The committee identifies and addresses the most significant concerns of the CRAA and its members.
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Leadership

"The CRAA advocates for efficient and transparent capital markets, which is only possible with a robust credit ratings community."

Jason Rapert
President & CEO, Credit Rating Agency Association
Insight

Materials for insight and advocacy

Interviews, whitepapers, guides, industry best practices, and news.
Global Markets
8 min read

Diversification: The Market’s “Gift”

Emphasizing the importance of accurately assessing credit quality in diversified portfolios.
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Private Debt
8 min read

Private Debt: An Accident Waiting to Happen or a More Stable Source of Funding

Analyzing the factors driving this trend and the associated risks.
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View all posts

Frequently asked questions

Everything you need to know about the Credit Rating Agency Association (CRAA).
What are CRAA's advocacy goals?
The Credit Rating Agency Association (CRAA) advocates for fair regulations, transparency, and competition in the credit rating industry. It works to ensure independent agencies receive equal recognition, promote market confidence, and align global regulatory standards. CRAA also provides education to policymakers, investors, and the public on the role and value of credit ratings.
Who can join CRAA?
Membership in the Credit Rating Agency Association (CRAA) is open to credit rating agencies that are recognized and operate in compliance with industry regulations. Eligible members include independent and established credit rating firms that support CRAA’s mission of advocacy, transparency, and education. Additional membership criteria may apply, such as regulatory registration or adherence to specific standards.
How is CRAA different from other credit rating industry groups?
The Credit Rating Agency Association (CRAA) focuses specifically on advocating for fair regulations, accurate ratings, and competition. The CRAA is not designed to compete with existing industry groups but to ensure that our goals are acheived.
How is the steering committee selected?
The CRAA steering committee is typically selected through a nomination and voting process among member organizations. Members may nominate representatives based on their expertise, industry experience, and commitment to CRAA’s mission. Final selections are made through a vote or appointment process to ensure diverse and balanced representation within the committee.
What geographies is CRAA focused on?
The Credit Rating Agency Association (CRAA) primarily focuses on advocacy and regulatory matters in the United States but also engages with international regulatory bodies to ensure fair treatment of credit rating agencies globally. Its efforts may extend to regions where credit rating regulations impact member agencies, promoting consistency and transparency in global markets.
How much does it cost to join CRAA?
The cost to join the Credit Rating Agency Association (CRAA) varies based on membership level and agency size. Membership fees are designed to support CRAA’s advocacy, education, and operational efforts. For specific pricing details, prospective members should contact CRAA directly.
How does billing work?
CRAA membership fees are typically billed annually, with invoices sent to member organizations upon joining and at the start of each renewal period. Payment methods and terms may vary, and some membership tiers may offer flexible payment options. For specific billing details, members can refer to their membership agreement or contact CRAA directly.
What is the legal structure of CRAA?
The Credit Rating Agency Association (CRAA) is structured as a nonprofit organization, dedicated to advocacy, education, and industry representation. Its legal framework ensures it operates in compliance with applicable regulations while serving the interests of its member credit rating agencies.
How does CRAA prevent capture by one rating agency?
CRAA prevents capture by any single rating agency through a governance structure that ensures balanced representation among its members. The steering committee is composed of representatives from multiple agencies, selected through a fair nomination and voting process.
How are regional representatives selected?
Regional representatives are selected by the steering committee. Members from specific regions may nominate candidates who are knowledgeable about the local market and regulatory landscape.