https://www.taxtmi.com/circulars?id=65823 CRAs must treat a downgrade of three or more notches between two consecutive rating actions as a sharp rating action and disclose such events including and excluding non-cooperative issuers; adopt detailed INC policies with three consecutive months of non-submission of No-Default Statements as grounds to tag ratings as INC (to be tagged within seven days) while retaining earlier migration discretion; assign ratings in withdrawal press releases except in limited exceptions; permit withdrawal of perpetual debt ratings subject to continuous rating and undertakings from issuer and other CRAs; publish rating transition matrices both excluding and including withdrawn/INC ratings (with withdrawn proportions) and provide machine-readable disclosures with a ten-year archive and separate cumulative default rates including/excluding INCs. en-us Thu, 25 Aug 2022 00:00:00 +0530 Fri, 26 Aug 2022 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=65823 CRAs must treat a downgrade of three or more notches between two consecutive rating actions as a sharp rating action and disclose such events including and excluding non-cooperative issuers; adopt detailed INC policies with three consecutive months of non-submission of No-Default Statements as grounds to tag ratings as INC (to be tagged within seven days) while retaining earlier migration discretion; assign ratings in withdrawal press releases except in limited exceptions; permit withdrawal of perpetual debt ratings subject to continuous rating and undertakings from issuer and other CRAs; publish rating transition matrices both excluding and including withdrawn/INC ratings (with withdrawn proportions) and provide machine-readable disclosures with a ten-year archive and separate cumulative default rates including/excluding INCs. Circulars SEBI Thu, 25 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/circulars?id=65823