Guidelines on Minimum Information Required for the Rating

To complete a rating assignment and to conduct surveillance and reviews, the Organization undergoing the rating process has to furnish, proactively, all details about past performance and future plans of the Organization even that of confidential nature. By signing a rating agreement, the Organization agrees to ensure availability of such information on a continuous basis. Access to such information forms the basis of timely and appropriate rating action. Acuité reserves the right to conduct the rating exercise / review with publicly available information, if the minimum requirement of information is not made available to Acuité. The rated entity will have to furnish the following:

  1. Annual Reports / Audited Financial Statements for last 3 years (or since inception, if entity is incorporated within last 3 years)
  2. Provisional Financial Statements (Quarterly / Half-yearly)
  3. Timely Debt Repayment letter in prescribed format and details of any past default / delay in meeting the debt obligations
  4. Bank statement(s) for the last 3 months for the cash credit account/s and the term loan account/s

In addition, entities to be rated have to submit the following (if applicable) as and when Acuité calls for the same:

  1. Financial projections for the next two years with relevant assumptions and Year to Date financials of the current financial year
  2. Latest sanction letter from the bank
  3. Details on project / capital expenditure
  4. Top customers/suppliers details
  5. Future business plan or corporate actions (acquisition, mergers, business restructuring etc.)
  6. Change in management
  7. Reason and comments on status of non-co-operation or suspension with any previous CRA (if applicable)
  8. Project wise cash flow statements (applicable to real estate firms)
Acuité will seek information (Points 1 to 3 and 1 to 9 mentioned above) through one or more modes including e-mail, letters and telephone calls. 
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Our exciting journey started in 2005 with rating of bank borrowers most of whom were small and medium enterprises. At that time, credit rating was a concept known only to large issuers of capital market instruments. Since then, like a caterpillar transforms itself into a beautiful butterfly, we transformed to rate bonds, bank facilities of large corporates and issuers across industries. Along came many achievements - SEBI Registration in 2011, RBI accreditation in 2012, 50,000 ratings in 2018, 5,000 Bond and Bank Loan Ratings in 2017, launch of India's first Android and iPhone app to disseminate rating, tamper-proof QR-code-enabled rating rationales, and SMERA Terminal to name a few.

Now is the time to re-emphasize our increasing footprint across all segments of ratings through the launch of our new name - 'Acuité'.

The name has changed. The spirit of upholding highest standards of analytical rigour, continuous improvement, excellence in our processes and quest for innovation remains the same. We would like to re-emphasize that we will continue to work hard to provide independent, unbiased and timely opinion of highest standard.

Acuité means 'sharpness and clarity of thought and vision'. Let our research and ratings help you take decisions with confidence.


Sankar Chakraborti
CEO