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ARTICLE · 07 SEPTEMBER 2024

Credit Rating Agencies

JSA Advocates & Solicitors
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SEBI, vide circular dated July 4, 2024, has revised the timelines to be followed by Credit Rating Agencies ("CRAs") as specified under master circular dated May 16, 2024.

IndiaFinance and Banking
Anish Mashruwala
Anish Mashruwala
Shrijita Bhattacharya
Shrijita Bhattacharya
Deboshree Mukherjee
Deboshree Mukherjee
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Revised timelines and disclosures by credit rating agencies

SEBI, vide  circular dated July 4, 2024, has revised the timelines to be followed by Credit Rating Agencies (“CRAs”) as specified under master circular dated May 16, 2024. The revised timelines are as follows:

  1. for communication of rating to the issuer – 1 (one) working day of the rating committee meeting;
  2. for request for review/appeal of rating by the issuer – 3 (three) working days of the rating committee meeting; and
  3. for dissemination of press release on CRA's website and intimation of the same to stock exchange/ debenture trustee – 7 (seven) working days of the rating committee meeting.

Further, CRAs must maintain an archive of all disclosures on their website, for at least 10 (ten) years.

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