Guidelines, issued under SEBI Act (1992) and Regulation 20 of CRA Regulations, will enhance the Ease of Doing business for CRAs and protect investor interests. 

Key guidelines

• Communicating rating to companies: By CRAs and within one working day of the rating committee meeting.
• Appeal against rating:  Companies can request a review or appeal of the rating decision within three working days of the rating committee meeting.
• Public disclosure: CRAs must publish a press release on their website and inform the stock exchange/debenture trustee within seven working days of the rating committee meeting.
• Record maintenance:  CRAs must keep records of these disclosures for 10 years. 

About Credit rating in India

• Credit ratings: It represents a CRA’s opinion on the probability of timely repayment of debt and the likelihood of default on interest and principal payments.
• CRA: SEBI (Credit Rating Agencies) Regulations, 1999 defines CRA.
  • A CRA is a corporate body involved (or proposes to be engaged) in rating securities (either listed or to be listed on a SEBI-recognized stock exchange).
• 7 CRA’s registered with SEBI: CRISIL, CARE, ICRA, Acuité, Brickwork Rating, India Ratings (Ind-Ra) And Research Pvt. Ltd, Infomerics Valuation And Rating Pvt. Ltd.