Credit Rating Agency
EthiFinance Ratings is a European Credit Rating Agency, registered by ESMA since 2012.
This European Agency stems from the combination of the French EthiFinance Credit Agency and its Spanish counterpart, Axesor Rating.
EthiFinance Ratings is a European Credit Rating Agency with analysts based in Madrid, Paris, Granada and Lyon.
We provide independent credit assessments to issuers (solicited ratings) and investors (unsolicited ratings) across a broad range of asset classes, including corporates, structured finance, project finance, financial institutions, and sovereigns.
Thanks to its public, specific methodologies, covering a large spectrum of asset classes, EthiFinance Ratings can provide ‘short-term’ or ‘long-term’ ratings to tap capital markets.
Leveraging transparent methodologies and EthiFinance’s ESG expertise, our ratings incorporate ESG factors and their impact on creditworthiness.
We offer public ratings and private credit assessments, supporting financing, investment, and regulatory needs with independent and reliable credit opinions.
We deliver trusted Credit Ratings
Our Credit Ratings solutions provide independent, structured insights to evaluate credit risk across listed, private, and non-rated issuers.
Products and services
An overview of the Credit Rating products and services we offer.
Methodologies
The methodologies that support our Credit Ratings.
Rating process
How we build a rating, step by step, from the initial request to publication.
Rating scales and definitions
Our rating scales, with the definition behind each category and outlook.
Regulatory
Access our regulatory documentation and policies.
Notifications
Official notifications and announcements published on our website.
Quality policy
Our approach to quality, internal controls and continuous improvement.
EthiFinance Ratings - Committed to Sustainable Finance
Our rating process has been designed to be transparent, agile and customer-focused.
We are dedicated to bridging the gap between issuers and investors through a comprehensive analysis of the creditworthiness of issuers, including ESG-related impacts.
EthiFinance Credit Ratings governance
Board of Directors
Chairman of the Board of Directors
Élie Hériard-Dubreuil
Andromède CEO
Director
Carol Sirou
CEO
Independent Non-Executive Directors
Myriam Fernandez de Heredia
Former S&P Global Ratings Managing Director, International Consultant
Olivier Delfour
Former Fitch Ratings Managing Director, Independent Consultant
Mauricette Salque
Former Moody’s France Associate Managing Director
Audit Committee
Chairwoman of the Audit Committee - INED
Myriam Fernandez de Heredia (INED)
Former S&P Global Ratings Managing Director, International Consultant
Members
Carol Sirou
CEO
Olivier Delfour (INED)
Former Fitch Ratings Managing Director, Independent Consultant
Mauricette Salque (INED)
Former Moody’s France Associate Managing Director
Meet our experts!
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