Credit rating requirement relaxed: single registered rating suffices and non-investment grade bonds permitted to public The SEBI DIP Guidelines were amended to require credit rating from at least one SEBI-registered agency for public or rights issues of debt instruments, with disclosure of that rating in the offer document; where multiple ratings exist, all ratings including unaccepted ones must be disclosed. Rollover of non-convertible debentures requires a rating obtained within six months prior to redemption and communication to debenture holders. Structural restrictions on instrument features (maturity, put/call, conversion) are removed and issuance of below investment grade debt to the public is permitted; amendments apply to draft offer documents filed on or after the circular date.