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Introduction of Expected Loss (EL) based Rating Scale and Standardisation of Rating Scales Used by Credit Rating Agencies - SEBI - SEBI/HO/MIRSD/MIRSD_CRADT/P/CIR/2021/594

Extract

..... RSD/ DOS3/ CIR/ P/ 2019/ 70 dated June 13, 2019 had standardised symbols and definitions for ratings of instruments having explicit credit enhancement feature. A. Introduction of Expected Loss (EL) based Rating Scale 2. In addition to the standardized rating scales prescribed by aforementioned circulars, subsequent to discussions with various stakeholders, the following rating scale viz. Expected Loss (EL) based Rating Scale may be used by CRAs for ratings of projects/ instruments associated wit .....

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Introduction of Expected Loss (EL) based Rating Scale and Standardisation of Rating Scales Used by Credit Rating Agencies - SEBI

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..... by the para 6 of SEBI circular numbered CIR/MIRSD/4/2011 dated June 15, 2011. B. Standardisation of Rating Scales Used by Credit Rating Agencies 4. CRAs, in terms of Regulation 9(f) of SEBI (Credit Rating Agencies) Regulations, 1999 (“CRA Regulations”), undertake ratings of various financial instruments under the guidelines of different financial sector regulators or authorities. 5. In order to standardise the usage of rating scales, CRAs are advised to align their rating scales wit .....

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Introduction of Expected Loss (EL) based Rating Scale and Standardisation of Rating Scales Used by Credit Rating Agencies - SEBI

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..... cept Section B above which comes into effect from April 01, 2022. 9. This circular is issued in exercise of the powers conferred by Section 11 (1) of Securities and Exchange Board of India Act, 1992 read with the provisions of Regulation 20 of SEBI (Credit Rating Agencies) Regulations, 1999, to protect the interest of investors in securities and to promote the development of, and to regulate, the securities market. Yours faithfully, Richa G. Agarwal General Manager Market Intermediaries Regulati .....

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Introduction of Expected Loss (EL) based Rating Scale and Standardisation of Rating Scales Used by Credit Rating Agencies - SEBI

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