Publication Policies

modefinance adopted internal policies and procedures for the publication and presentation of credit ratings, as required by the EU Regulation on Credit Rating Agencies.

modefinance ratings and rating actions (review on previous judgments included) are disclosed on a non-selective basis and in a timely manner to the customers, via the present website.

Public ratings are available to all users, without any need to register on the site, while ratings distributed by subscription are accessible only to subscribers of the service. In the latter case, modefinance reserves the right to agree on an additional method of distribution of ratings for the benefit of individual subscribers, on a periodic basis and through dedicated IT flows.

All ratings disclosed through this website, without exception, shall be subject to internal control mechanisms and subject to a prior notification process to the rated undertaking, as required by applicable regulations.

All rating actions (except for those of simple review) are always accompanied by a dedicated report, accessible only to authorized users in the reserved area of this website. modefinance may request a fee for access to such reports even if they refer to public ratings.

The typical structure of modefinance Public Rating Reports covers the following information:

1. KEY RATING INFORMATION AND DISCLOSURES (KEY RATING FACTORS
2. INFORMATION ON FACTORS THAT COULD INFLUENCE THE RATING AFTER THE ISSUANCE (RATING SENSITIVITY)
3. COMPANY AND THE GROUP
4. DIMENSIONAL AND SECTORIAL ANALYSIS
5. LEGAL DISCLOSURE: PRESS RELEASE, INFORMATION SOURCES USED, NOTIFICATION PROCESS RESUME, ACTUAL OR POTENTIAL CONFLICT OF INTERESTS DISCLOSURE
6. DISCLAIMER
7. METHODOLOGIES AND OUTCOME OF INTERIM EVALUATIONS
8. RATING DEFINITIONS/li>
9. ATTACHMENTS: FINANCIAL STATEMENTS ECONOMIC FINANCIAL INDICATORS AND CASH FLOW ANALYSIS

In the case of ratings distributed via subscription, the order in which the contents are exposed may be different from that indicated above.

The issuance of the rating judgment may be further accompanied, only in the case of public ratings, by a specific press release that would be disclosed through this website or through the institutional website www.modefinance.com .

Reports and any press releases may be issued, at the discretion of modefinance, both in Italian and English.

In the case of an action for withdrawal of an existing rating, all reports and any relevant press releases shall clearly explain the reasons for that decision.

The mandatory information required under the Credit Rating Agencies Regulation shall be reported in all reports and in any press releases.