https://www.taxtmi.com/circulars?id=63376 SEBI requires CRAs to downgrade instruments to non-investment grade with INC status where an issuer's ratings remain non-cooperative for a prolonged period and to suspend assignment of new ratings until cooperation resumes or withdrawal. It prescribes a standard No Default Statement template for issuer confirmations of defaults and payment delays, and permits earlier withdrawal of ratings on multi-rated instruments subject to continuous rating tenure, a bondholder no-objection certificate, and an issuer undertaking; withdrawal must be accompanied by an assigned rating and a press release explaining reasons. en-us Fri, 03 Jan 2020 00:00:00 +0530 Mon, 06 Jan 2020 17:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=63376 SEBI requires CRAs to downgrade instruments to non-investment grade with INC status where an issuer's ratings remain non-cooperative for a prolonged period and to suspend assignment of new ratings until cooperation resumes or withdrawal. It prescribes a standard No Default Statement template for issuer confirmations of defaults and payment delays, and permits earlier withdrawal of ratings on multi-rated instruments subject to continuous rating tenure, a bondholder no-objection certificate, and an issuer undertaking; withdrawal must be accompanied by an assigned rating and a press release explaining reasons. Circulars SEBI Fri, 03 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=63376