CRISL Disclosure Policy

CRISL Disclosure Policy

CRISL has an appropriate disclosure policy which has been adopted in the CRISL ethical Code in line with IOSCO Code Fundamentals for rating agencies. CRISL discloses all its rating other than the private ratings in its website within two working days of the announcement of rating by the rating committee. In addition the rating report in summarized form is also placed in CRISL web indicating rationale of rating, Rating Outlook indicating the validity period of rating from the date of announcement.

CRISL also discloses on non selective basis the rating action taken against an issue or issuer. CRISL also publishes the internal rating process through its website and printing materials in order to make the public aware a rating is arrived at. It also publishes the rating scales, definitions of each rating and also the methodology of rating to make the rating most meaningful and understandable.

In order to ensure transparency and to enable the market to best judge the performance of ratings, CRISL publishes sufficient information about the historical default rates of CRISL and rating transition by time horizon so that interested parties may understand the historical performance of each category and if and how rating categories have changed, and may be able to draw quality comparisons among ratings given by different credit rating agencies. The ethical code also warrants CRISL to fully and publicly disclose all material modifications to its methodologies, processes and other related procedures.