Rating Outlook Policy
July 2025
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A Rating outlook indicates BWR’s view on the expected direction of the rating movement in the near to medium term. BWR shall assign a rating outlook and disclose the same in the published Rating Rationale. The Standard Descriptors are given below
The long-term ratings are accompanied by a ‘Rating Outlook’ namely, ‘Stable’, ‘Positive’ or ‘Negative’.
Standard Descriptors:
| Rating Outlook |
Implication |
| Stable |
As per current assessment, the rating is likely to remain at the same position in the medium term |
| Positive |
As per current assessment, the rating is likely to move upwards in the medium term subject to realisation of certain conditions |
| Negative |
As per current assessment, the rating is likely to move downwards in the medium term subject to realisation of certain conditions |
BWR will not assign Rating outlook may not be assigned for
- Short-term ratings
- Rating in the “C” & “D” categories
- Rating on watch
- Rating of securitization transactions backed by pool of loans, as BWR has mandated to disclose at least once every six months the performance of the rated pool
- Credit quality ratings of mutual fund schemes, provided surveillance of the funds holding by BWR on a monthly basis