I. Formulation of Rating Criteria and rating processes and public disclosure of the same.
II. Accountability of Rating Analysts
III. Standardisation of Press Release for rating actions.
IV. Functioning and evaluation of Rating Committees/Sub-Committees.
V. Disclosure of ratings in case of non-acceptance by an issuer
VI. Disclosure in case of delay in periodic review of ratings.
VII. Policy in respectofnon-co-operation by the issuer.
VIII. Strengthening and enhancing the relevance of Internal Audit of CRAs, viz. appointment and rotation of auditors and scope of the audit.
3. The CRAs shall effectively implement these guidelines within 60 days from the date of issue of this circular.