Regulatory Disclosures

Disclosures on

• Rating procedure
• Credit Rating History, defaults, and movement
• Long-run and Short-run average default rates
• Disclosures on Income
• Disclosure pertaining to Unsolicited Credit Ratings
• Shareholding pattern
• Compliance status of IOSCO code of conduct

Conflict of Interest

Policy for dealing with Conflict of Interest in investment / trading by Crisil Ratings Limited, Access Persons and other employee

Disclosures on

• Operating Guidelines and Policies
• Unaccepted Ratings
• Delays in periodic reviews
• Composition of Committee/Sub-Committee

Disclosures on

• Average one-year transition rates for long-term ratings
• Sharp rating actions in investment grade rating category

SCORES

• Guidelines on Filing Complaints on SCORES - Easy & Quick
• Investor Grievances Disclosure

Default recognition and PD benchmarks

• SOP for CRAs for monitoring and recognition of default
• PD Benchmarks for Long-term ratings

Entities that have sought moratorium

List of Crisil Ratings -rated companies that have sought moratorium on their debt facilities

Policy on

Post Default Curing Period

Common Director disclosure

Common Director or Chief Executive Officer or Managing Director between the CRA and the non-rating entity

Information on Issuers not Cooperating

Lists of issuers who are non-cooperative with the CRA

SEBI vide its master circular SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/145 dated August 11, 2023, has provided for an Online Dispute Resolution Mechanism for Clients of the Registered Intermediaries, to bring the provisions of this circular to the notice of the clients, and also to disseminate the same on their website. Accordingly, the Master Circular on Online Dispute Resolution can be accessed here

Compensation Arrangement

RBI's communication DBOD.BP.No./5385/21.06.007/
2012-13 - Compensation arrangements with entities seeking ratings on bank loans

Bank Statements

RBI’s communication dated August 30, 2018, reference no. DBR.BP.No. 1775/21.06.007/2018-19 on Bank Statements

Disclosure of Lender Details

Reserve Bank of India (RBI) has advised, vide its communication to all CRAs dated June 04, 2021 reference no. CO.DOR.ISG.No.S150/21-06-008/2021-2022 on disclosure of Lender Details

Disclosure under IOSCO Code of Conduct

• Crisil Ratings Code of Conduct
• Crisil Ratings Methodology / Criteria
• Crisil Ratings Default Study
• General nature of compensation arrangements with rated entities