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.


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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