SEBI tweaks operational framework on credit rating agencies

Feb 3, 2023 

SEBI on Friday tweaked its operational circular on credit rating agencies (CRAs), asking them to have a detailed policy by March-end in respect of non-submission of crucial information, including quarterly financial numbers, by the issuers.

CRAs will have to follow a uniform practice of three consecutive months of non-submission of no-default statement (NDS) as a ground for considering migrating the ratings to INC (issuers not cooperating) and need to tag such ratings within 7 days of three consecutive months of non-submission of NDS.

[CNBC]