Rating Process Flow and Timeline
15th June 2020 (Version 5)



 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


 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.

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.

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.