TRANSPARENCY & DISCLOSURE NORMS FOR CREDIT RATING AGENCIES :

Recent events in global financial system have underlined the pivotal role that credit ratings play. Effective use of credit ratings by the users is crucially dependent upon quality and quantity of disclosures made by the Credit Rating Agencies (CRAs). There have been widespread consultations on the issue both globally and within India and several documents have been prepared. In the wake of the above and in order to impart higher credibility to the processes and procedures associated with the credit rating, SEBI in consultation with the CRAs, prescribed the following transparency and disclosure norms for the CRAs.