SEBI Sets New Timeline for Credit Rating Agencies’ Rating Communication, Issuer Appeal and Press Release Dissemination
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- Last Updated on 6 July, 2024
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Circular No. SEBI/HO/DDHS/DDHS-PoD-3/P/CIR/2024/97, Dated 04.07.2024
To promote the ease of doing business for Credit Rating Agencies, it has been decided to provide revised timelines for dealing with appeals made by the issuer in respect of periodic rating actions and for Disseminating Press Releases. Now, ratings must be communicated to the issuer within 1 working day of the Rating Committee meeting.
Issuers have 3 working days to request a review/appeal. Also, press releases must be posted on the CRA’s website and notified to Exchanges/DTs within 7 working days. While an outer timeline of 1 working day has been specified, CRAs shall endeavor to communicate the rating to the issuer on the same day as the Rating Committee meeting. This circular shall be applicable with effect from August 01, 2024.
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