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    <title>Standardizing and Strengthening Policies on Provisional Rating by Credit Rating Agencies (CRAs) for Debt Instruments</title>
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    <description>Provisional ratings for debt instruments must be prefixed with Provisional and are those contingent on execution of support agreements, legal documents, assignment or escrow arrangements, debt service reserve accounts, or pending formation and registration of REITs/InvITs; CRAs must convert provisional ratings into final ratings within prescribed timeframes with possible committee approved extension, disclose pending steps, associated risks and alternative ratings in press releases, and publish supplementary disclosures when provisional ratings are not accepted by the issuer.</description>
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