Stampa

Legality rating: 583 cases closed in the first four months of 2016


PRESS RELEASE


PRESS RELEASE

 

LEGALITY RATING 583 CASES CLOSED IN THE FIRST FOUR MONTHS OF 2016

In the first four months of 2016, the ICA closed 583 cases attributing 418 Legality Ratings (equal to 71%). Compared to the same four-month period of 2015, this tool - appointed to the ICA to reward virtuous companies - experienced an increase respectively of 124% and 111%. Moreover, renewals amounted to 17 as well as confirmations, plus 16 score increases. Whereas, denials amounted to 27 (equal to 5%), with 3 suspensions, 4 revocations and 81 dismissals.

From January 2013 to 30 April 2016, out of a total of 2,828 requests submitted to the ICA, 2,430 cases were closed (86%), while 398 are still ongoing (14%). The total amount of Rating attributions was equal to 1,789 (74%), with 69 confirmations (3%) and 41 attributions with a higher score (2%). To complete the general view of the activity carried out to date by the ICA’s Directorate, denials amount to 104 (4%), with 10 suspensions (0.5%), 12 revocations (0.5%), 52 renewals (2%) and 353 dismissals (14%).

In these four years, most of the Legality Rating applications have been submitted by Northern Regions (53%), while 30% have been submitted by Southern Regions and the Islands (with Puglia ranking first at 10.6%), and 17% by Central Regions.

Approved by the Parliament at the end of 2012, the Legality Rating is a “premium” tool. In fact, the ICA has been appointed to attribute a score - from one to three “stars” - to virtuous companies, with a yearly turnover above two million Euros, that satisfy a series of legal requirements. First of all, in order to obtain a “star”, the Company’s owner and managers must not have criminal or fiscal records. Moreover, the Company must not have been sentenced for anti-competitive behaviours in the two previous years, and all of its payments and financial transactions above one thousand Euros must be carried out exclusively through traceable means. In order to obtain a higher score, the Regulation indicates six further requirements: two “stars” are granted if half of the requirements are satisfied, three “stars” if they are all satisfied.

According to what provided for by law, the Legality Rating entrusted to the ICA “is relevant in the granting of public funds and in access to bank credit”. Pursuant to the same regulation, “when granting funds to companies, banks that do not keep into account the attributed rating are obliged to submit a detailed report to Banca d’Italia motivating their reasons”.

The complete and updated list of companies that have obtained the Legality Rating is provided on this same website (http://www.agcm.it/rating-di-legalita/elenco.html).

Rome, 3 May 2016