* Consent of the client is only required for initial rating actions. For subsequent /surveillance rating actions, public ratings are disclosed even if client consent has not been received

** If the company believes that certain information influencing the rating was not conveyed adequately or some later developments need to be taken into consideration by the rating committee, an appeal is made within two days of the assignment of the rating. The appeal process is designed to address specific points relating to the rating decision, and hence, the appeal meeting is tightly focused. The analyst will incorporate new information into the analysis, which is then reconsidered by the rating committee. The committee may decide if the new information (to be provided within 10 days of the appeal) warrants a rating change, or it may stand by its original rating decision. The rating decision on appeal is final.