SEBI vide its Circular dated 3rd February, 2023, in order to enable the industry and other users to have access to all the applicable circulars/ directions at one place, an Operational Circular for CRAs has been prepared. The said circular is compilation of all the existing circulars as on 3rd February, 2023 with regard to Credit Rating Agencies and with subsequent changes.
Further, the list of existing circulars for CRAs which have been superseded by Operational Circular is placed at Annexure A.
This Circular is applicable to all Credit Rating Agencies, Registered Debentures Trustees, Issuer who have listed and/or propose to list Non-Convertible Securities, Securitized Debt Instruments, Security Receipts, Municipal Debt Securities or Commercial Paper, Recognized Stock Exchange, Depositories registered with SEBI.
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