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1(4)</ukm:Section></ukm:Savings><ukm:CommencementAuthority><ukm:Section Ref="section-86-3" URI="http://www.legislation.gov.uk/id/ukpga/2023/29/section/86/3">s. 86(3)</ukm:Section></ukm:CommencementAuthority><ukm:InForceDates><ukm:InForce Applied="false" Prospective="true" Qualification=""/></ukm:InForceDates></ukm:UnappliedEffect></ukm:UnappliedEffects></ukm:EUMetadata><ukm:Alternatives><ukm:Alternative URI="http://www.legislation.gov.uk/eur/2015/2/pdfs/eur_20150002_adopted_en.pdf" Date="2015-01-06" Size="1001983"/></ukm:Alternatives><ukm:Statistics><ukm:TotalParagraphs Value="32"/><ukm:BodyParagraphs Value="15"/><ukm:ScheduleParagraphs Value="17"/><ukm:AttachmentParagraphs Value="0"/><ukm:TotalImages Value="0"/></ukm:Statistics></proprietary></meta><body eId="body"><article eId="article-3" uk:target="true"><num>Article 3</num><heading>Rating types</heading><content><p>Credit rating agencies shall, when reporting credit ratings or rating outlooks, classify them as one of the following types of ratings:</p><blockList class="ordered alpha parens" ukl:Name="OrderedList" ukl:Type="alpha" ukl:Decoration="parens"><item><num>(a)</num><p>corporate ratings;</p></item><item><num>(b)</num><p>structured finance ratings;</p></item><item><num>(c)</num><p>sovereign and public finance ratings;</p></item><item><num>(d)</num><p>other financial instruments.</p></item></blockList></content></article></body></act></akomaNtoso>