Standardisation of rating scales: CRAs must align rating symbols and descriptors with regulator prescribed scales and report compliance. CRAs must align rating symbols and definitions with scales prescribed under respective financial sector regulator guidelines; adopt the Annexure issuer/corporate credit rating symbols and definitions for new ratings and reviews; use specified standard descriptors for Rating Watch and Rating Outlook; apply structured finance scales for Capital Protection Oriented Schemes; report board ratified compliance within one quarter of applicability; and be subject to half yearly internal audit monitoring.
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Provisions expressly mentioned in the judgment/order text.
Standardisation of rating scales: CRAs must align rating symbols and descriptors with regulator prescribed scales and report compliance.
CRAs must align rating symbols and definitions with scales prescribed under respective financial sector regulator guidelines; adopt the Annexure issuer/corporate credit rating symbols and definitions for new ratings and reviews; use specified standard descriptors for Rating Watch and Rating Outlook; apply structured finance scales for Capital Protection Oriented Schemes; report board ratified compliance within one quarter of applicability; and be subject to half yearly internal audit monitoring.
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