{"id":210814,"date":"2025-01-08T17:14:10","date_gmt":"2025-01-08T17:14:10","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/01\/08\/introduction-to-working-days-sebi-revises-working-norms-for-credit-rating-agencies-times-of-india\/"},"modified":"2025-01-08T17:14:10","modified_gmt":"2025-01-08T17:14:10","slug":"introduction-to-working-days-sebi-revises-working-norms-for-credit-rating-agencies-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/01\/08\/introduction-to-working-days-sebi-revises-working-norms-for-credit-rating-agencies-times-of-india\/","title":{"rendered":"Introduction to ‘working days’: Sebi revises working norms for credit rating agencies – Times of India"},"content":{"rendered":"
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NEW DELHI: The securities and exchange board of India (SEBI) updated rules for credit rating agencies (CRAs) by introducing \u201cworking days\u201d as the standard for compliance deadlines, replacing the previous use of \u201cdays.\u201d
The changes, announced in a circular on Tuesday, aim to standardise rating processes and publication protocols.
These updates followed recommendations from a working group on CRAs, highlighting the difficulties posed by calendar-based timelines, particularly during non-working days.
“One of the recommendations of the Working Group of CRAs for ease of doing business pertains to modification of approach on specifying timelines from ‘days’ to ‘working days’ in respect of certain requirements,” the market regulator stated in its circular.<\/p>\n

Changes under the revised rules:<\/h3>\n<\/p>\n

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  1. Press releases on rating actions
    <\/strong>CRAs must now publish press releases on rating actions within seven working days of the relevant event, replacing the earlier requirement of seven calendar days.<\/li>\n
  2. Delays in debt servicing
    <\/strong>The timeline for reviewing ratings in cases of delays in debt servicing has been adjusted to two working days from the previous two calendar days.<\/li>\n
  3. \u2018Issuer not cooperating\u2019 tag
    <\/strong>In case an issuer fails to submit a no-default statement (NDS) for three consecutive months, CRAs must now tag the ratings as “issuer not cooperating” within five working days, shortened from seven calendar days. Earlier, this duration was seven calendar days.<\/li>\n
  4. Debt servicing confirmation
    <\/strong>For debt servicing confirmation, if no response is received within one working day after the due date, CRAs must promptly follow up and issue a press release within a stricter timeline of two working days.<\/li>\n<\/ol>\n<\/div>\n

    The regulator emphasised that these changes are effective immediately and are intended to address operational inefficiencies for credit rating agencies.<\/div>\n<\/div>\n