Rating Process Flow and Timeline
15th June 2020 (Version 5)
Description |
Timeline |
Reporting of Signed mandate
with fee payment^ |
Day T |
Case allocation to Analyst* |
Day T+1 |
Send communication to seek
required data and information |
Day T+3 |
Receipt of Minimum Information
(Timer is Reset) |
Day T1 |
Management interaction from
date of receipt of complete information |
Day T1+7 |
Submission to RCM# |
Day T1 + 12 |
RCM |
Day T1 + 14 |
Communication of Rating and
sending LoA template |
Day T1+16 |
Receipt of Signed LoA
(applicable for fresh cases) |
Day T2* |
Dissemination of Rating and
publishing on website |
Day T2+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.
^ Reporting of Signed mandate with fee payment: This refers to the stage after clearance by Quality Control (QC) team. Hence, Day ‘T’ is the day on which the QC team clears the mandate and the case is handed over to the analytical team for execution.
* Case allocation to analyst:
The Rating Desk, which is an independent team that is not
involved in the execution of rating assignments, allocates the new cases
received on the basis of multiple factors such as, region/geography of the
issuer, industry/ sector, product (BLR/Bonds) debt quantum, case complexity,
vintage and experience of the analyst, bandwidth of the analyst, group
entity(s) of the issuers already rated etc. If need be, the Rating Desk may
seek inputs from the Head – Ratings / President – Ratings in this matter.
# Submission to RCM:
Wherever required, the rating note is reviewed by the Team
Leader/ Head before submission to RCM.
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.
*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.
Timeline
Once Acuité receives all required
information from the client the rating process will be completed and the case
will be presented at the Rating Committee Meeting within 3 to 4 weeks.