SEBI Introduces Template for Sharing of Information by CRAs to Debenture Trustees

Circular No. SEBI/HO/DDHS/DDHS-POD2/P/CIR/2023/151; Dated: 04.09.2023

Under the SEBI (Credit Rating Agencies) Regulations, 1999, Credit Rating Agencies (CRAs) are required to share certain information with the Debenture Trustees (DTs).

Due to the large quantum of information submitted daily by CRAs to the DTs and the short timelines mandated for the disclosure of this information by DTs, it is essential that the data shared by the CRAs must be structured and submitted in a specified format for easier accessibility and analysis of the submitted data. In this regard, SEBI has issued an excel template for daily submissions of rating revisions to the DTs. An excel template is attached as an annexure to the circular itself.

Such submissions shall be sent by the CRAs to the DTs on the same day as the day of the rating revisions, on either the generic email ID being used for regulatory purposes, or email IDs/URL as may be communicated for this purpose by the DTs.

The circular shall be effective from 01.10.2023 and CRAs shall report on their compliance with this circular to SEBI within one quarter from the date of applicability of this circular.

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