Disclosures on rating procedure; credit rating history and defaults; Income etc.

Rating procedure

• Policies
  • Ratings Code of Conduct
  • How CRISIL manages conflicts of interest
    
• Methodology
  
• Procedure

Credit rating history and defaults

ANNEXURE A: Rating Summary Sheet - October 2023 to March 2024 

• Securities
  • Bonds, Debentures and other similar instruments
  • Securitization Transactions
• Financial Instruments other than securities
• Securities*
  • Bonds, Debentures and other similar instruments
  • Securitization Transactions
• Financial Instruments other than securities*

* Rating Summary Sheets excluding ratings for Issuers Not Co-operating (INC)

ANNEXURE A: Rating Summary Sheet - Archives

ANNEXURE B: Annexure I to VII

Annexure I - Details of new credit ratings assigned during last six-months - October 2023 to March 2024 

• Securities
  • Bonds, Debentures and other similar instruments
  • Securitization Transactions
• Financial Instruments other than securities

Annexure II-Movement of each credit rating^ - October 2023 to March 2024 

Annexure II A - Upgrades

• Securities
  • Bonds, Debentures and other similar instruments
  • Securitization Transactions
• Financial Instruments other than securities

Annexure II B - Downgrades

• Securities
  • Bonds, Debentures and other similar instruments
  • Securitization Transactions
• Financial Instruments other than securities

^Covers only rating changes and not reaffirmations.

Annexure III - Movement of each credit rating from investment grade to non-investment grade and vice versa - October 2023 to March 2024 

From Investment Grade to Non-Investment Grade

• Securities
  • Bonds, Debentures and other similar instruments
  • Securitization Transactions
• Financial Instruments other than securities

From Non- Investment Grade to Investment Grade

• Securities
  • Bonds, Debentures and other similar instruments
  • Securitization Transactions
• Financial Instruments other than securities

• Annexure V - History of Credit Rating of all Outstanding Securities as on March 31, 2024 
  
  • Annexure V-a: Details for securitized instrument ratings
    
  • Annexure V-b: Details for non-securitized instrument ratings
    

• Annexure VI - List of defaults separately for each rating category - October 2023 to March 2024 
  

  Annexure VI A - Long Term Scale

  • Securities
    • Bonds, Debentures and other similar instruments
    • Securitization Transactions
  • Financial Instruments other than securities

  Annexure VI B - Short Term Scale

  • Securities
    • Bonds, Debentures and other similar instruments
    • Securitization Transactions
  • Financial Instruments other than securities

Annexure B : Annexure I to VI - Archives

Annexure A:

• Long-run and short-run average default rates for all instruments
  • Archives

• Long-run and short-run average default rates for dataset limited to credit ratings of securities that are listed, or proposed to be listed

Income

• General Nature of Compensation arrangements with rated entities
  
  • Archives
    

• In case of accepted ratings, disclosure of conflicts of interest if any
  These details have been provided as per format stipulated by SEBI
  

• Income disclosure for CRISIL Ratings Limited for the period- January to December 2022
  Total receipt from rating services and non-rating services
  Non- rating income from issuer to total income from issuer
  Rated issuers who along with their associates contribute 10% or more of total revenue of the CRL and its subsidiaries - NIL
  • Archive
    

Disclosure pertaining to Structured Finance Products

• Compliant
• Performance of rated pools
  
  • Archive
    

Disclosure pertaining to Unsolicited Credit Ratings

• CRISIL Ratings Ltd does not carry out any unsolicited credit ratings
  
  • Archive
    

Shareholding pattern of CRISIL Ratings Ltd- CRISIL Ratings Limited is a wholly owned subsidiary of CRISIL Limited

• Archive
  

Compliance Status of IOSCO Code of conduct