Dear Sir/Madam,
The Securities and Exchange Board of India (SEBI) has issued Circular No. SEBI/HO/DDHS/DDHS-PoD-3/P/CIR/2024/160 dated November 18, 2024, regarding amendment to Para 15 of Master Circular for Credit Rating Agencies (CRAs) dated May 16, 2024 (“Master Circular”).
As per said circular, CRAs are required to furnish the details of their clients, i.e. the issuers, pertaining to amount of payment (principal and/ or interest) failed, reason for failure of payment and other details in prescribed format as mentioned in the said circular on the same day as the dissemination of the rating Press Release on the CRA’s website.
Accordingly, the term "technical default" is omitted from Para 15.3 of the Master Circular and the said para stands modified.
The circular shall be applicable with immediate effect.
The aforesaid circular is attached for reference.
Listed entities are requested to take note and comply accordingly.
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Manu Thomas
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Kunal Borkar
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Addl. General Manager- Listing Compliance
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Manager- Listing Compliance
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