Sebi announces changes to the composition of credit rating agencies

At least a third of the rating committee members will have to be independent, says Sebi

Sebi on Wednesday announced changes to the composition of rating committees at credit rating agencies (CRAs). 

Going ahead, if an issuer requests for a review of the ratings provided to their instrument, the majority of the rating committee members will have to be different than those who had assigned the rating earlier. 

Also, at least a third of the rating committee members will have to be independent, Sebi said in a circular.