Why Acuité?
A key differentiator is our research repository on over 30 industry verticals and the Indian economy, accessible to all bankers through our "Knowledge Centre” platform.
In the forefront to drive technology driven solutions such as an Industry First — QR code — for all our rating communications and a Mobile App - RatingsBuzz to access our ratings.
Who Are Our Clients?
Our mix of clients comprise of large and small-sized private corporate houses; public sector giants like the Nuclear Power Corporation, and reputable names in the financial sector. They belong to diverse sectors ranging from steel, aviation, banking, telecom, IT & ITes, oil and gas and power to the hotel, retail, leather and jewellery industry and more.
Exercise care while evaluating comparative claims relating to Observed Default Rates
The Reserve Bank of India has prescribed reference Observed Default Rate ("ODR") ranges under the Reserve Bank of India (Commercial Banks – Capital Charge for Credit Risk – Standardised Approach) Directions, 2026 , stated to take effect from 1 April 2027.
Pending further clarity on certain aspects of the computation and implementation framework, market participants may consider exercising caution before relying on comparative claims regarding the ODR performance of credit rating agencies ("CRAs") or the regulatory treatment of ratings assigned by different CRAs.
In particular, issuers, borrowers, lenders, investors and other users of credit ratings may wish to independently verify any representation suggesting that:
- a particular CRA has met, or is likely to meet, the RBI-prescribed ODR range;
- another CRA has failed, or is likely to fail, the applicable reference range;
- the same rating assigned by one CRA would necessarily receive more favourable regulatory treatment than a rating assigned by another CRA; or
- appointing or changing a CRA would, by itself, result in lower risk weights, reduced borrowing costs or any other assured regulatory or commercial benefit.
Comparisons may be influenced by the methodology adopted, the period and population considered, and the treatment of matters such as withdrawals, rating migrations, non-cooperation, cured defaults, securitised debt and guaranteed obligations. Differences in the timing and manner of default recognition may also affect the comparability of reported performance data.
Accordingly, users may consider:
- seeking details of the methodology, source data, observation period, inclusions, exclusions, assumptions and limitations underlying any comparative claim;
- verifying whether the figures presented are regulatory ODRs or historical transition-rate data used as an indicative proxy;
- avoiding reliance on provisional or indicative comparisons as if they represented a final regulatory determination; and
- confirming the applicable regulatory and prudential treatment with the concerned lender, regulator or other competent authority.
This caution is not intended to discourage legitimate competition or the dissemination of fairly presented and independently verifiable rating-performance information. Its purpose is to encourage informed decision-making and appropriate verification before reliance is placed on comparative marketing or business-solicitation claims.
No decision to appoint, replace or rely upon a CRA should be based solely on an unverified representation of an assured rating, regulatory, pricing or commercial outcome.