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        SEBI

        Regulation 4B - Credit Rating

        Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015
        Chapter II
        ELIGIBILITY AND CONDITIONS

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        Credit rating requirement: issuers must obtain and disclose registered credit ratings, and disclose all multiple ratings obtained. Issuers must obtain a credit rating from at least one credit rating agency registered with the Board and disclose that rating in the offer document or placement memorandum; if multiple ratings are obtained from registered agencies, all ratings, including unaccepted ratings, must be disclosed in the offer document or placement memorandum.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Credit rating requirement: issuers must obtain and disclose registered credit ratings, and disclose all multiple ratings obtained.

                                Issuers must obtain a credit rating from at least one credit rating agency registered with the Board and disclose that rating in the offer document or placement memorandum; if multiple ratings are obtained from registered agencies, all ratings, including unaccepted ratings, must be disclosed in the offer document or placement memorandum.


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