A credit rating is the single biggest lever on the cost of corporate debt. A one-notch upgrade can move pricing 50–150 bps; over a ₹500 Cr facility that is ₹2.5–7 Cr per year. These articles unpack the practical mechanics across all seven SEBI-registered rating agencies (CRISIL, ICRA, CARE, India Ratings, Acuité, Brickwork, Infomerics): which agency fits which instrument, how to prepare a rating pack that doesn't get scored as Stable when it could be Positive, what the surveillance calendar looks like, and how mid-market CFOs walk into rating meetings prepared rather than reactive. Includes BLR (Bank Loan Rating) specifics, instrument-specific notes (NCD, CP, term loan) and the appeal mechanism.