 "Sebi eases default recognition norms for Covid-related debt restructuring")
Sebi has extended the relaxation given for default recognition on account of restructuring of debt, till December 31.
It had directed credit rating agencies not to assign default grade to entities that undergo restructuring solely due to Covid-related stress, earlier in March. “The RBI has given a resolution framework.
Based on its assessment, if a rater thinks the restructuring by the lenders/investors is solely due to Covid-related stress or under the aforementioned framework, CRAs may not consider the same as a default and/or recognise default,” Sebi said.
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