Withdrawal of credit ratings requires issuer undertaking and reassignment with press release stating reasons under SEBI rules. Amendment sets conditions for a CRA to withdraw a rating under Regulation 16(3): continuous rating for the higher of five years or half the instrument's tenure and an undertaking from the issuer that a rating is available. On withdrawal the CRA must assign a rating and issue a press release in the prescribed SEBI format stating the reason(s) for withdrawal, pursuant to powers under Section 11(1) of the SEBI Act and Regulation 20 of the CRA Regulations to protect investors and regulate the securities market.
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Withdrawal of credit ratings requires issuer undertaking and reassignment with press release stating reasons under SEBI rules.
Amendment sets conditions for a CRA to withdraw a rating under Regulation 16(3): continuous rating for the higher of five years or half the instrument's tenure and an undertaking from the issuer that a rating is available. On withdrawal the CRA must assign a rating and issue a press release in the prescribed SEBI format stating the reason(s) for withdrawal, pursuant to powers under Section 11(1) of the SEBI Act and Regulation 20 of the CRA Regulations to protect investors and regulate the securities market.
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