Last Reviewed On: April 04, 2020 (Version 3)

1. For the purpose of surveillance and review, Acuité calls for the information / data from the rated clients. In terms of the Agreement entered into by the client with Acuité, the client is required, inter alia, to:
   • Furnish on a continuous basis all information in a timely manner as may be required by Acuité during the lifetime of the facilities / instrument rated by Acuité and
   • Pay the annual surveillance fee and all other charges billed by Acuité in full.
2. In case the rated entity does not provide the information called for by Acuité and does not respond to telephonic follow ups by Acuité's executives, Acuité shall send a reminder through email / letter to the rated entity. Similarly, in case the annual surveillance fee and any other amounts payable to Acuité are not paid in full and on time, Acuité will remind the rated entity to pay the annual surveillance fee and all other amounts payable to Acuité through email / letter. If, in spite of reminder, the information required or the annual surveillance fee is not received from the entity, the entity will be considered as a non-cooperating entity
3. With respect to chronic failure in submission of "No Default Statement” by a rated entity, Acuite will follow its internal guidelines on the action to be taken for flagging the entity as "Issuer Not Cooperating”.
4. An instance where an issuer (whether or not flagged off as "Issuer not Co-operating") has failed to cooperate (please refer point 2 above), is considered by Acuité to be fraught with serious information risk. If Acuité is of the opinion that lack of cooperation by such an entity coupled with information risk makes the currently outstanding rating untenable, Acuité may take necessary rating action that may include a multi-notch rating transition. Acuité will also update the banker(s) with the rating action so taken.