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1. Terms

By accessing this website (www.egan-jones.com), you acknowledge that you have read these Terms of Service, understand them, and agree to be bound by these Terms of Service, all applicable laws and regulations, and agree that you are responsible for compliance with any applicable local laws. If you do not agree with any of these terms, you are prohibited from using or accessing this site. The materials contained in this website are the sole and exclusive property of Egan-Jones Ratings Company (“EJR”) and are protected by applicable copyright and other intellectual property law.

Please refer to EJR’s Privacy Policy for information on EJR’s collection of data with respect to the website.

2. Use License

EJR grants you a personal, revocable, non-exclusive, nontransferable license to access and use the website for personal, non-commercial use only in accordance with these Terms of Service. This is the grant of a license, not a transfer of title, and under this license you may not:

  • Modify, copy, republish, retransmit, disseminate or redistribute any content contained on the website, including use of any data scraping, data mining or similar devices or processes;

  • use the materials for any commercial purpose, or for any public display (commercial or non-commercial);

  • license, sublicense, assign, sell or resell any content contained on the website;

  • attempt to decompile, disassemble or reverse engineer any aspect of, or any content contained on, the website;

  • create any derivative works of any content on the website;

  • remove any copyright or other proprietary notations from the materials; or

  • transfer the materials to another person or "mirror" the materials on any other server.

You may not use the website or any content on the website for any unlawful purpose or any manner inconsistent with these Terms of Service.

This license shall automatically terminate if you violate any of these restrictions and may be terminated by EJR at any time without prior notice. Upon terminating your viewing of these materials or upon the termination of this license, you must destroy any downloaded materials in your possession whether in electronic or printed format.

3. Disclaimers

  • The materials on EJR's website are provided on an 'as is' basis. EJR makes no warranties, expressed or implied, and hereby disclaims and negates all other warranties including, without limitation, implied warranties or conditions of merchantability, fitness for a particular purpose, or non-infringement of intellectual property or other violation of rights.

  • Further, EJR does not warrant or make any representations concerning the accuracy, likely results, or reliability of the use of the materials on its website or otherwise relating to such materials or on any sites linked to this site.

  • Ratings issued by EJR are not recommendations to buy, hold or sell the related EJR is not an advisor and is not providing investment advice, strategy or related services and EJR does not act as a fiduciary for any person.

  • Ratings and other opinions issued by EJR are, and must be construed solely as, statements of opinion and not statements of fact as to creditworthiness. A report providing an EJR rating is neither a prospectus nor a substitute for the information assembled, verified and presented to investors by the issuer and its agents in connection with the sale of the securities.

  • EJR’s credit ratings do not address certain actors or risks such as market volatility, market risk or liquidity risk. Prospective clients should refer to EJR’s published statements as to the meaning of different credit ratings assigned by EJR.  Credit ratings provided by EJR are solely intended to be used by institutional investors.  EJR does not assess or address the suitability of any investment for any client or any other person or the marketability of any security or instrument.

4. Limitations & Indemnity

In no event shall EJR be liable for any damages (including, without limitation, damages for loss of data or profit, or due to business interruption), including direct, indirect, special, incidental, punitive or consequential damages, arising out of the use or inability to use the materials on EJR's website, even if EJR or an EJR authorized representative has been notified orally or in writing of the possibility of such damage. This limitation applies to the extent that it would not be unlawful to do so.

You agree to indemnify and hold harmless EJR and any of its affiliates, and all of their respective officers, directors, employees, contractors, partners, shareholders, legal representatives, agents, successors and assigns, from and against any damages, losses, liabilities, claims, costs and expenses (including reasonable attorneys' and professionals' fees and court costs) arising out of any third party claims based on or related to your use of or access to the website or any breach by you of these Terms of Service.

Your use of the website is solely at your own risk and subject to all applicable laws and regulations. EJR is not responsible for the security of any information transmitted via the internet, the accuracy of the information contained on the website, or for the consequences of any reliance on such information.

5. Accuracy of materials

The materials appearing on EJR's website could include technical, typographical, or photographic errors. EJR does not warrant that any of the materials on its website are accurate, complete or current. EJR may make changes to the materials contained on its website at any time without notice. However, EJR does not make any commitment to update the materials.

6. Links

EJR has not reviewed all of the sites linked to its website and is not responsible for the contents or operation of any such linked site. The inclusion of any link does not imply endorsement by EJR of the site. Use of any such linked website is at the user's own risk and EJR shall have no liability to any person or entity for the use of such third party websites.

7. Modifications/Waiver

EJR reserves the right to change these Terms of Service at any time without notice. Changes will be posted on the website under "Terms of Service".  Your access and use of the website after any changes have been posted will constitute your agreement to the modified Terms of Service.

Any failure to insist on strict performance of any of the terms and conditions of these Terms of Service will not operate as a waiver of any default or failure of performance. No waiver by EJR of any right under these Terms of Service will be effective unless in writing and will not be deemed to be either a waiver of any other right or provision or a waiver of that same right or provision at any other time.

These Terms of Service constitute the entire agreement between the parties relating to the website and supersedes any and all other agreements, oral or in writing, with respect to the website.

8. Release

If you are requesting a credit ratings report (a “Rating Report”), then you agree as follows:

  1. You acknowledge that the Rating Report was prepared separately by EJR on an unsolicited basis based on publicly available information and without regard to your interests or needs. EJR owes no duty to you and shall not be liable to you under any basis whatsoever in connection with your use or review of the Rating Report.

  2. You agree that you may obtain a copy of the Rating Report from EJR solely for your own confidential, private use, and you agree not to republish, redistribute or share the Rating Report with outside parties, including without limitation, using the Rating Report in any registration statement, prospectus and/or private offering memorandum for the offer and sale of any securities. Any Rating Report provided to you is for informational purposes only.

  3. As consideration for receiving the Rating Report, you and anyone claiming on behalf of or through you, including any affiliate or subsidiary, hereby release and forever discharge EJR and its affiliates, successors, assigns, officers, directors, employees, contractors, representatives, partners, shareholders, agents and anyone claiming through them (collectively, the “Released Parties”), in their individual and/or corporate capacities from any and all claims, liabilities, obligations, promises, agreements, disputes, demands, damages, causes of action of any nature and kind, known or unknown, which you have or ever had or may in the future have against EJR or any of the Released Parties arising out of or relating to the Rating Report and any related materials provided to you by EJR.

  4. The terms of this Section 8 shall be binding upon and inure to the benefit of you and EJR and your and its respective heirs, administrators, personal representatives, executors, successors and assigns. You represent that you have the authority to release the claims as provided herein and have not assigned or transferred any such claims to any other party.

9. Governing Law

These terms and conditions are governed by and construed in accordance with the laws of the State of New York and you irrevocably submit to the exclusive jurisdiction of the courts in that State or location.  YOU AGREE THAT YOU IRREVOCABLY WAIVE, TO THE FULL EXTENT PERMITTED BY LAW, ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THESE TERMS OF SERVICE.

Last updated on 2021-08-26.