Rating companies form umbrella organisation in a first

Two domestic credit rating agencies are leading the way in forming a self-regulatory organisation for the sector. CARE Ratings and Acuite Ratings & Research have set up a unit to evolve a common code of conduct and practices to prevent a recurrence of defaults such as those by IL&FS and DHFL. This is the first … Read more

Moody’s downgrades India rating to lowest investment grade

Moody’s downgrades India’s sovereign rating to ‘Baa3’ from ‘Baa2’ with negative outlook. This is one shot away from non investment grade – though it’s unlikely that would happen. It’s also reasonable to expect that in all likelihood, S&P will follow soon. They are currently one step higher at BBB- with stable outlook. Mostly, they would … Read more