Measures for Ease of Doing Business for Credit Rating Agencies (CRAs) –Timelines

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.... and/or proposed to be listed Non-Convertible Securities, Securitized Debt Instruments, Security Receipts, Municipal Debt Securities or Commercial Paper Recognized Stock Exchanges, All Depositories registered with SEBI Madam/ Sir, Sub: Measures for Ease of Doing Business for Credit Rating Agencies (CRAs) -Timelines (Modification to Chapter II and Chapte....

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.... establish and substantiate delays and defaults in debt servicing, where it is difficult to obtain written confirmation on holidays/ non-working weekends. 3. In order to promote Ease of Doing Business and bring about uniformity in dealing with rating reviews and publication of Press Release by CRAs, it has been decided to modify the following paras of the Master Circular as below: S. No. ....

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....S) (or inability to validate timely debt servicing through other sources) as a ground for considering migrating the ratings to INC and shall tag such ratings as INC within a period of 7 days of three consecutive months of non-submission of NDS. The CRA in its judgement may migrate a rating to the INC category before the expiry of three consecutive months of non-receipt of NDS. 5 working days ....