June 30, 2017 / 3:23 PM / 3 months ago

BRIEF-India's regulator SEBI sets new rules for rating agencies

June 30 (Reuters) -

* India’s market regulator Securities and Exchange Board of India (SEBI) tweaks rules for the monitoring and reviewing of ratings by credit agencies

* Says ratings agencies required to track the servicing of debt obligations for each instrument rated by them

* Says ratings agencies must look for potential deterioration in financials which might lead to defaults, delays in servicing of debt

* Says rating agencies shall carry out a review of the ratings upon announcement of news or material events

* Says issuers must provide credit rating agencies with no default statement each month, saying it has not delayed any payment of interest, principal Source text for Eikon: (bit.ly/2urxyKV) (Reporting by Rafael Nam)

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