Rating Process Flow and Timeline
23rd March 2024 (Version 11)


 Description

 Timeline

Business Development (BD) Representative generates / regenerates link for Rating Application and sends it to the Client for Acceptance on the same Calendar Day.

Client accepts the Terms through an OTP Process  

Day T

Submission of Mandate for BD Quality Check (QC) and Finance Clearance / Resubmission after being rejected by BDQC; timer is reset

Day T1

Clearing BD QC

Day T1+ 1

Case Allocation by Rating Administration and system generated mail for seeking information.

Day T1 + 2

Management interaction or receipt of full information-whichever is later; timer is reset

Day T2

Submission / resubmission of Case for Pre-RCM QC

 

Day T2+4

Submission to Rating Desk for inclusion in a RC Meeting#

Earliest: Day T2+4
 Latest: Day T2+6

RC Meeting

Earliest: Day T2+4
Latest: Day T2+7

Communication of the rating assigned to issuer

2 working days of rating committee decision

Receipt of manually / electronically signed Letter of Acceptance (applicable for fresh cases); timer is reset

Day T3$

Dissemination of rating and publishing on website

Day T3 + 2

Surveillance & Monitoring: On-going process

As per SEBI requirements


‘Day’ refers to a working day and excludes weekends / public holidays / non-working or partial days / emergency holidays declared by government / municipal authorities.

*This Rating Process and Timeline is applicable for only Initial Rating cases.

#Submission to Rating Desk for inclusion in a RC Meeting: Wherever required, the rating note is reviewed by the Team Leader/ Head before submission to Rating Desk for inclusion in a RC Meeting.

Appeal
The client has an option to appeal against the rating assigned. If the client chooses to appeal against the rating assigned, Acuité will accept such a request at its discretion, only upon being provided with additional, material information not provided earlier. Such a request can be made within 05 days of communication of rating and shall be accepted only once.

Acceptance of rating by the issuer after 5 working days of communication, but within a month of assigning the rating:
 In cases where rating is accepted by the issuer after 5 working days of communication of rating, but within a month (i.e. before the rating is published as an ‘Unaccepted Rating’), Acuite would follow the timelines prescribed by SEBI and accordingly publish the Press Release within 2 working days of the receipt of formal acceptance of the rating by the issuer.

$Disclosure of Unaccepted Rating
Acuité will disclose the unaccepted ratings on its website within a month from the date of communication of rating to the client, as per prevailing SEBI guidelines..