New feature on VIGIL: Rating Red Flags (India)

Published: February 21, 2026

VIGIL Rating Red Flags

VIGIL now tags every credit rating with a red flag classification. Downgrades, defaults, negative outlooks, watchlists, speculative grades - nine categories that tell you which ratings or companies need your attention.

It looks at three fields from each rating filing - the action, the outlook text, and the credit grade - and classifies each record into one of nine categories:

Downgrade, Default, Default Grade
Negative Outlook
Watch Negative, Watch Developing, Watch In Rating, On Watch
Speculative Grade

So a company rated 'CRISIL D' gets flagged as Default Grade. A 'Reaffirm' with 'Watch Developing' in the outlook gets flagged as Watch Developing. A plain 'Reaffirm' with 'Stable' outlook? Not flagged.

Out of 10,000+ rating records, this helps surface the where some issue might be happening. The red flag filter works on the Credit Ratings page, Nifty 500 grid, and company pages.

Tracking all agencies (CRISIL, ICRA, CARE, India Ratings, ACUITE, Infomerics, Brickwork) from Jan 2024 onwards.

Resources

VIGIL App: https://www.tigzig.com/vigil