IFSCA Revises GIFT City Credit Rating Rules

The International Financial Services Centres Authority (IFSCA) has updated the rules for credit rating agencies in GIFT City, Gujarat.

Now, before a credit rating is made public, the issuer (the entity being rated) can check the facts and point out any mistakes.

This change ensures that the information used for ratings is accurate.

The issuer can only correct facts, not influence the rating itself.

The new rules also require agencies to keep detailed records of their rating decisions.

Private and unsolicited ratings are not affected by these changes.

This update aims to make the rating process fairer and more transparent, following global standards.