Measures for Ease of Doing Business for Credit Rating Agencies (CRAs) – Timelines and Disclosures

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..... nd Disclosures ( Modification to Chapter III of the Master Circular for Credit Rating Agencies dated May 16, 2024 ) 1. Para 28.3.3 of the Master Circular for CRAs - SEBI/HO/DDHS/DDHS-POD3/P/CIR/2024/47 dated May 16, 2024 ( Master Circular ), prescribes the timeline to be followed by CRAs for dissemination of Press Release on CRA s website and intimation of the same to Stock Exchanges/ Debenture Tr .....

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..... timation of the same to Stock Exchange/ Debenture Trustee 7 working days of the Rating Committee meeting * While an outer timeline of 1 working day has been specified, CRAs shall endeavor to communicate the rating to the issuer on the same day as the Rating Committee meeting. 3. Para 31.1.2 of the Master Circular is as under: An archive of all disclosures should be maintained by CRAs on their webs .....

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..... r website under the issuer-specific Press Releases/ Rating Rationale section of the respective issuer, wherever applicable. 5. Applicability: The circular shall be applicable with effect from August 01, 2024. 6. Monitoring: Monitoring of this circular shall be done in terms of the half-yearly internal audit for CRAs, mandated under Regulation 22 of the CRA Regulations and circulars issued thereund .....

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