SEBI vide Circular dated April 01, 2022, has specified Standardisation of Rating Scales Used by credit rating agencies –Extension of timeline for implementation
In order to standardise the usage of rating scales, SEBI vide circular dated July 16, 2021, advised the credit rating agencies to either align their rating scales with the rating scales prescribed under the guidelines of respective financial sector regulator or authority in terms of Regulation 9(f) of SEBI (Credit Rating Agencies) Regulations, 1999, or
In the absence of the same, It has to follow rating scales prescribed by the Board vide circular dated June 15, 2011, June 13, 2019, or any other circular issued by the Board from time to time, by March 31, 2022.
In view of representation received from credit rating agencies, it has been decided to extend the date of applicability of section B of the aforesaid circular. Credit rating agencies shall ensure compliance with the requirements/ provisions of section B of the aforesaid circular on or before June 30, 2022.
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