Page 3 - Credit Rating Agencies

Indian firms getting downgraded like never before; credit markets at risk

Ratings have been cut for 847 companies

Rating disruption due to moratorium will pinch markets: Raters to Sebi

Extension of moratorium also discussed with Sebi

India Inc grapples with rising rating downgrades, revisions in outlook

Domestic rating agency CARE revised outlook on rating for Tata group-owned Indian Hotels Company Ltd from "stable" to 'negative'

RBI, Sebi split over default recognition; MFs, rating agencies seek clarity

In the absence of clarity, NBFCs are staring at huge repayment obligations at a time when their liquidity cover is declining

Don't consider repayment delays as default: Sebi to credit rating agencies

The relaxation has been extended till the period of moratorium given by the RBI

Covid-19 won't impact credit rating of pharma firms for now: Ind-Ra

If the disruption spills beyond the next 9 to 12 months, some of the higher rated corporates could face downward pressure

Rating downgrades slip to 15-month low in Jan as incremental risks decline

Market participants say full recovery from credit risks can take more time

Rating agencies move RBI, Sebi over new rule on loan default disclosures

Sources said CRAs highlighted the differential disclosure norms for bond and bank-loan defaults could lead to information asymmetry and affect the rating process, leaving scope for manipulation

Credit rating agencies in focus; CARE Ratings surges 19%, ICRA 10%

Most of the credit rating agencies had reported de-growth in their operational revenue during the first half of financial year 2019-20 (FY20).

RBI blasts credit rating agencies for allowing 'rating shopping'

After getting it badly from markets watchdog Sebi, credit rating agencies (CRAs) whose role in the bad loan implosion has been under scrutiny for years now, the Reserve Bank has blasted them for allowing low-rated companies to do "rating shopping". It can be noted that rating agencies have been largely blamed for their lax policies and oversight for the 2008 global financial crisis, which primarily spawned from junk-type mortgage bonds and their derivatives worth trillion of dollars that the Wall Street bankers invented and hawked across the globe to get AAA ratings and finally imploded. Back home, a fortnight before IL&FS went belly up in September 2018, rating agencies India Ratings, Icra and Care had given its debt papers AAA/AA+ ratings. This finally had the Sebi last Friday penalising Icra, Care and India Ratings Rs 25 lakh each for their "lapses in their duty to investors by not taking timely action" when they rated NCDs of IL&FS which owes close to Rs 1 lakh crore to ...

RBI raises concerns about companies shopping around for favourable ratings

Non-disclosure of indicative ratings by agencies makes it difficult to identify such instances, according to the FSR

RCEP offer 'was not as much as our aspirations', says FM Sitharaman

She also said that she held discussions with credit rating agencies on their methodology to assess risk

Sebi tightens governing norms for rating agencies; CEOs can't be on panel

The latest steps are to reduce conflict of interest situations at Credit rating agencies

MD, CEOs of rating agencies not to be members of rating committees: Sebi

In case the board is chaired by an executive director, half of the board shall comprise independent directors

Why do credit rating agencies keep missing big Indian company defaults?

India's major rating firms include Crisil, the Indian unit of S&P Global; ICRA, the local unit of Moody's Investors Service

Sebi eases FPI norms, approves changes in rules prohibiting insider trading

The easing of FPI norms comes at a time when overseas investors have pulled out over $3 billion from the domestic markets since the Union Budget

Credit rating agencies likely to get access to loan default details

At present, banks do not share with CRAs details of a company's existing and future borrowing

Rating agencies: Derated and now berated

The onus is on the CRAs to come out clean or face the wrath of the markets and live in shame

Real Madrid tickets to Fitbit shirts: Gifts by IL&FS for favourable ratings

From tickets for a Real Madrid football match and hefty discounts on a luxurious villa to a Fitbit watch and shirts, a probe into the high-profile IL&FS scam has found numerous cases of favours and gifts extended by the erstwhile top management to senior officials of rating agencies and their family members. While the continuing probe has already led to CEOs of two rating agencies having been sent on leave by their respective boards, fresh details have emerged about suspected attempts by the former top management personnel of IL&FS Group to influence the rating agencies and their top officers for high credit ratings. The new board of IL&FS, which was appointed by the government after massive defaults by the group to the tune of over Rs 90,000 crore and suspected wrong-doings by the former top management, had mandated Grant Thornton to carry out a forensic audit. In an interim forensic audit report on role of credit rating agencies engaged by the erstwhile management, Grant

Care Ratings CEO sent on leave after Sebi receives anonymous complaint

Earlier this month, the local unit of Moody's Investors Service sent its managing director on leave amid an inquiry into a controversial rating decision