Pursuant to the SEBI (Credit Rating Agencies) (Amendment) Regulations, 2018 along with its subsequent amendment(s) and clarifications issued by SEBI from time to time in this matter (hereinafter collectively referred to as the “Amendment Regulations 2018”), a credit rating agency shall not carry out any activity other than the following with effect from May 30th, 2020:

  • Rating of securities offered by way of public or rights issue;
  • Rating of financial instruments under the respective guidelines of SEBI, Reserve Bank of India, Insurance Regulatory and Development Authority of India, Pension Fund Regulatory and Development Authority, Ministry of Corporate Affairs and Insolvency and Bankruptcy Board of India; and
  • Research activities, incidental to rating, such as research for economy, industries and companies.

Accordingly, ICRA Limited has discontinued the gradings and other related activities which are not allowed to be carried out in accordance to the Amendment Regulations 2018 with effect from May 30, 2020 and does not accept new business under these activities.

The information published on this page is relating to the grading and other related activities carried out by ICRA and the same is protected by law including, but not limited to, India copyright, trade secret, and trademark law, as well as other state, national, and international laws and regulations. The content used here is the exclusive property of ICRA Limited and ICRA Analytics Limited has only displayed the same on its website without assuming any responsibility on the correctness or completeness thereof.

For any details on the gradings and other related business activities you may contact:
Dr. Rajesh Khanna
Head, Business Development, ICRA Analytics Limited
Email: rajesh.khanna@icraanalytics.com
Ph: + 91 98107 20501