Rating agencies News

The Serious Fraud Investigation Office (SFIO) report points out gaping holes in the style of functioning of rating agencies which were complicit with the rogue management.

Das Thursday held a meeting with top officials of credit rating agencies as part of stakeholder consultation exercise.

Rating agencies have accorded investment grade to the proposed USD 500 million bond raising programme of the country's largest lender SBI.

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Markets regulator SEBI Tuesday came out with stricter disclosure requirements for credit rating agencies to ensure more transparency in their policies amid instances of drastic downgrades impacting investors.

Bloated credit profiles of corporates make their balance sheets vulnerable due to challenges from infrastructure, commodity meltdown and low consumption demand, leaving their interest coverage ability very weak, says a report.

 Concerned over severe spill-over impact of recent drastic downgrades by rating agencies, market regulator Sebi plans to strengthen its disclosure guidelines for issuance and review of the ratings by such entities.

With an aim to bring in greater transparency in dealings of mutual funds, regulator Sebi today asked them to disclose to investors the commissions paid to their distributors, including payouts in the form of gifts, trips and sponsorships

Here are the reactions from various rating agencies and brokerages on 7th Pay Commission report.

According to a recent World Bank report, India's ranking in global ease of doing business has improved by 12 notches to 130 out of 189 countries.

Global rating agency S&P Monday ruled out a rating upgrade for India within a year while Fitch said the government's fiscal consolidation strategy spelt out in Budget is "less aspiring" than in the past.

"The quality of fiscal deficit measured by the ratio of revenue deficit-to-fiscal deficit under FY15 revised estimate is 70.7 percent while the FY16 budget estimate is 71 percent," it said.

Pitching for bold reforms, two top global rating agencies Monday said the government needs to effectively implement its macro-economic and structural reform agenda for growing between 6-7 percent in coming years.

Moody's assigns a 'Baa3' rating on India, with a stable outlook.

Rating agencies on Friday said Finance Minister Arun Jaitley's assumption of containing fiscal deficit at 4.1 percent of GDP is difficult to achieve given the poor outlook on the revenue front and absence of reduction in subsidies.

Moody`s acquisition has sparked hopes of foreign investor interest in other local rating agencies too, dealers say.