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Strengthening of the rating process in respect of ‘INC’ ratings - SEBI - SEBI/HO/MIRSD/CRADT/CIR/P/2020/2

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..... financial institutions which continues beyond 30 days and b. default in case of unlisted debt securities i.e. NCDs and NCRPS, promptly but not later than 24 hours from the occurrence of the default. 2. In partial modification to SEBI Circular no. SEBI/ HO/ MIRSD/ MIRSD4/ CIR/ P/ 2017/ 71 dated June 30, 2017, the No Default Statement (NDS) is being aligned with the requirements of the aforementioned circular. The revised NDS is placed at Annexure A. 3. In order to further strengthen the rating pr .....

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Strengthening of the rating process in respect of ‘INC’ ratings - SEBI

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..... nure of the instrument, whichever is higher; and ii. received No-objection Certificate (NOC) from 75% of bondholders of the outstanding debt for withdrawal of rating; and iii. received an undertaking from the issuer that another rating is available on that instrument. c. At the time of withdrawal, the CRA shall assign a rating to such instrument and issue a press release, as per the format prescribed vide Circular dated November 01, 2016. The Press Release shall also mention the reason(s) for wi .....

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Strengthening of the rating process in respect of ‘INC’ ratings - SEBI

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..... Month and Year name>, there has been no instance of delay in servicing of our listed debt obligations. 4. We also confirm that in the month ended <Month and Year name>, there has been no instance of delay in servicing of our unlisted debt obligations. 5. We also confirm that in the month ended <Month and Year name>, there has been no instance of delay in servicing of debt obligations guaranteed by us. 6. We hereby Confirm that as on date there are no Over dues or default on paymen .....

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Strengthening of the rating process in respect of ‘INC’ ratings - SEBI

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