Sebi wants ratings agencies to rate all issuers
4 years, 6 months ago

Sebi wants ratings agencies to rate all issuers

Live Mint  

The Securities and Exchange Board of India is not in favour of a demand from credit rating agencies to let them withdraw ratings of uncooperative companies that fail to provide required information, two people aware of the matter said. Rating agencies last week wrote to Sebi and Reserve Bank of India that they wish to stop rating credit instruments and bank loans of un-cooperative issuers. “Sebi understands that there are many bank loans and issuers of debentures who have stopped cooperating with rating agencies, which hinders their ability to give a fair rating. The proportion of uncooperative issuers has more than doubled to 47% of the total in the two years to March 2020 and bank loans make 95% of such ratings, the agencies said.

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History of this topic

SEBI Introduces New Guidelines To Enhance Credit Rating Agency Operations
6 months ago

SEBI Introduces New Guidelines To Enhance Credit Rating Agency Operations

Live Law  

The Securities and Exchange Board of India has released a new set of guidelines designed to streamline operations and enhance business ease for Credit Rating Agencies. Under the new framework, CRAs must communicate the rating to the issuer within one working day following the Rating Committee meeting. CRAs are required to publish a press release on their website and notify …

Sebi cancels Brickwork Ratings registration
2 years, 3 months ago

Sebi cancels Brickwork Ratings registration

Deccan Chronicle  

Mumbai: The Securities and Exchange Board of India has cancelled the certificate of registration of rating agency Brickwork Ratings India with immediate effect and directed the rating agency to wind down operations within six months on account of violation of provisions of Sebi Credit Rating Agency Regulation and code of conduct. As per the show cause notice issued by Sebi, …

Sebi asks agencies to rate all firms
4 years, 6 months ago

Sebi asks agencies to rate all firms

Hindustan Times  

A representation from rating agencies which sought to withdraw ratings of companies who are not cooperating has met with resistance from the markets regulator, the Securities and Exchange Board of India. The regulations for credit rating agencies require that an instrument should be rated all through its lifetime and Sebi is unwilling to change the regulation as it could leave …

Sebi tightens norms for listed banks on bad loan disclosures
5 years, 2 months ago

Sebi tightens norms for listed banks on bad loan disclosures

India TV News  

Markets regulator Sebi on Thursday asked all listed banks to make disclosures about any divergence in provisioning of bad loans beyond specified threshold within 24 hours of receiving a risk assessment report from the Reserve Bank.The decision has been take in consultation with the Reserve Bank of India, the Securities and Exchange Board of India said in a circular. Accordingly, …

Sebi floats tighter norms for full disclosure on loan defaults with rating agencies
5 years, 3 months ago

Sebi floats tighter norms for full disclosure on loan defaults with rating agencies

India TV News  

Markets regulator Sebi has come out with new norms that make it mandatory for companies to provide details on delayed loan repayments and possible defaults to credit rating agencies amid concerns over banks citing 'client confidentiality' to resist sharing of such information by their borrowers. The new framework would enable credit rating agencies to get timely information on possible defaults. …

SEBI board approves tighter norms for full disclosure on loan defaults with rating agencies
5 years, 4 months ago

SEBI board approves tighter norms for full disclosure on loan defaults with rating agencies

Firstpost  

Mumbai: Amid concerns over banks citing ‘client confidentiality’ to resist sharing of information on delayed loan repayments and possible defaults by their borrowers, capital market regulator SEBI on Wednesday announced new norms to make it mandatory for companies to provide these details to credit rating agencies. Amid numerous cases of huge loan defaults by corporates, including in cases like Infrastructure …

SEBI mulls slew of reforms; tighter check on rating agencies, reward and hotline for informants
5 years, 4 months ago

SEBI mulls slew of reforms; tighter check on rating agencies, reward and hotline for informants

Firstpost  

New Delhi: With an aim to further safeguard investors’ interests and to take defaulters to the task, capital market regulator SEBI is planning to unveil a slew of reforms, including for greater checks on credit rating agencies and for rewarding informants in insider trading cases with up to Rs 1 crore reward. The regulator is also planning to ease its …

Sebi mulls tighter norms to ensure full disclosure on loan defaults with rating
5 years, 5 months ago

Sebi mulls tighter norms to ensure full disclosure on loan defaults with rating

Live Mint  

New Delhi: Amid concerns over banks citing 'client confidentiality' to resist sharing of information on delayed loan repayments and possible defaults by their borrowers, capital market regulator Sebi is planning to tighten its norms to make it mandatory for companies to provide these details to credit rating agencies. Amid numerous cases of huge loan defaults by corporates, including in cases …

IL&FS fiasco: Sending ICRA executive on leave isn't enough; time regulator kicked off sweeping reforms for raters
5 years, 6 months ago

IL&FS fiasco: Sending ICRA executive on leave isn't enough; time regulator kicked off sweeping reforms for raters

Firstpost  

The international rating agency Moody’s Indian arm ICRA has done well to tick off its executive Naresh Takkar by sending him on leave pending an inquiry on the anonymous charge received by SEBI. The charge relates to top credit ratings given to IL&FS by a slew of credit rating agencies in India including ICRA. ICRA’s top brass must also be …

House panel raps rating agencies for not anticipating IL&FS situation
5 years, 11 months ago

House panel raps rating agencies for not anticipating IL&FS situation

Hindustan Times  

A parliamentary panel wants the finance ministry to spell out steps to make India’s credit rating agencies more accountable and transparent in the backdrop of the crisis at the highly rated finance firm Infrastructure Leasing & Financial Services. The panel wants the government to end the practice of agencies getting paid by the companies that want credit ratings, a business …

IL&FS crisis fallout: Sebi tightens disclosure norms for credit rating agencies
6 years, 2 months ago

IL&FS crisis fallout: Sebi tightens disclosure norms for credit rating agencies

Live Mint  

Mumbai: India’s markets regulator has tightened disclosure norms for credit rating agencies after they failed to warn investors in time about the deteriorating credit profile of Infrastructure Leasing and Financial Services Ltd. Credit rating agencies would also need to disclose if the company is expecting additional funds to pare its debt along with the name of the entity that will …

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