Guidelines for Credit Rating Agencies

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..... te which is engaged in the business of rating of securities offered by way of public or rights issues. The term "securities" has been defined in Clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956. 2. However it is observed that the CRAs registered with SEBI also carry out rating of other securities / instruments and loans / facilities provided by banks which are not regula .....

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..... time to time. 5. The half-yearly internal audit for the CRAs as prescribed by SEBI shall also cover the above mentioned ratings. 6. This circular is issued in exercise of the powers conferred by Section 11(1) of Securities and Exchange Board of India Act, 1992 and Regulation 20 of the Regulations. 7. This circular is available on SEBI website at www.sebi.gov.in under the categories "Legal Frame .....

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