Amendments to Operational Circular for Credit Rating Agencies

Amendments to Operational Circular for Credit Rating Agencies

1. Vide Circular no. SEBI/HO/DDHS/DDHS-RACPOD2/P/CIR/2023/6 dated January 06, 2023, SEBI has issued an ‘Operational Circular for Credit Rating Agencies’ (Operational Circular).
   
2. The following amendments are being made to Operational Circular:
   
   -Para 5.6.1 shall stand modified as follows:
   In addition to the standardized rating scales prescribed for various instruments, 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 with infrastructure sector to begin with:

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