Grading Scale

Grading	Description
CRISIL GVC Level 1	The capability of entities graded CRISIL 'GVC Level 1' with regard to corporate governance and value creation for all stakeholders is Excellent.
CRISIL GVC Level 2	The capability of entities graded CRISIL 'GVC Level 2' with regard to corporate governance and value creation for all stakeholders is Very Good.
CRISIL GVC Level 3	The capability of entities graded CRISIL 'GVC Level 3' with regard to corporate governance and value creation for all stakeholders is Good.
CRISIL GVC Level 4	The capability of entities graded CRISIL 'GVC Level 4' with regard to corporate governance and value creation for all stakeholders is Average.
CRISIL GVC Level 5	The capability of entities graded CRISIL 'GVC Level 5' with regard to corporate governance and value creation for all stakeholders is Below Average.
CRISIL GVC Level 6	The capability of entities graded CRISIL 'GVC Level 6' with regard to corporate governance and value creation for all stakeholders is Weak.
CRISIL GVC Level 7	The capability of entities graded CRISIL 'GVC Level 7' with regard to corporate governance and value creation for all stakeholders is Very Weak.
CRISIL GVC Level 8	The capability of entities graded CRISIL 'GVC Level 8' with regard to corporate governance and value creation for all stakeholders is the Weakest.

SEBI vide its notification dated May 30, 2018, amended the (Credit Rating Agencies) Regulations 1999, by which certain activities hitherto being carried out by a credit rating agency are no longer allowed to be carried out by the credit rating agency after a period of two years from the date of notification.

For Governance and Value Creation Grading

Dharmendra Sharma
Director - Research
Business Development
0124 6722503
Saurabh Yadav
Senior Regional Manager
Business Development
+91 9819817040
saurabh.yadav@crisil.com