SEBI proposes new guidelines for Indian credit rating agencies, requiring detailed explanations for rating actions, and removing the term 'technical default'.
SEBI proposes new guidelines for credit rating agencies (CRAs) in India, emphasizing detailed explanations for rating actions, particularly defaults and upgrades. These changes recommend removing the term 'technical default' and considering situations like force majeure, incorrect investor accounts, or government freezes. The public is invited to provide feedback on these proposed modifications by August 15th.
July 25, 2024
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