Akademik Veri Yönetim Sistemi
Law and Justice Review, sa.25, ss.89-106, 2023 (Hakemli Dergi)
We are used to hearing country credit ratings that demonstrate the economic force and performance of the country however ratings are also carried out for companies individually. In such a case rating information allow investors to assess the risks related with the corporations listed in Capital Market. Therefore, ratings announced by Credit Rating Agencies (CRAs) are one of the main data used by investors especially before buying or selling company stocks. The reliability of the ratings is important for the trust in the market and the sustainability of the activities of the CRAs. However, putting liability to CRAs for any third party who uses the data announced would it be fair or possible? The Capital Market Law no. 6263 adopted in 2012 clearly accepted liability to CRAs to any third party who suffered damages due to the misleading information announced. This newly accepted liability against third parties investors is a result of an endeavour to harmonise our Capital Market Law with the European Union (EU Regulation No. 1060/2009). This paper is examining this newly adopted liability of CRAs to third party investors.