Author: Mamta Arora
Publisher:
ISBN: 9788177080551
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Credit rating system started in India in 1987 when the first credit rating agency was established in the country, namely The Credit Rating Information Services of India Limited (CRISIL). In tandem with the progress of economic liberalisation since 1991, the credit rating industry has also spread its wings and is now an integral part of the Indian financial system. Although a relatively new concept, credit rating has caught the fancy of financial analysts who are ever eager to develop new methods to rate corporate debt, keeping in mind the domestic business environment and the psychology of the Indian investor. This book is unique because it not only examines the existing practices of credit rating in India but also evaluates the performance of the Indian credit rating agencies themselves.
Author: Bharati V. Pathak
Publisher: Pearson Education India
ISBN: 9788131728178
Category :
Languages : en
Pages : 816
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Book Description
Author: Abhisar Singh
Publisher:
ISBN:
Category :
Languages : en
Pages : 11
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Book Description
Credit rating is an "opinion regarding the creditworthiness of an entity, a debt or financial obligation, debt security, preferred share or other financial instrument, or of an issuer of such a debt or financial obligation, debt security, preferred share or other financial instrument, issued using an established and defined ranking system of rating categories” and Credit rating agency is “a legal person whose occupation includes the issuing of credit ratings on a professional basis.”In this paper the author analyses the functioning of credit rating agencies in India, obligations upon a credit rating agency, creditability of credit rating agencies and in the end author concludes the article.
Author: Ahmed Naciri
Publisher: Routledge
ISBN: 1317634357
Category : Business & Economics
Languages : en
Pages : 221
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Book Description
Credit rating agencies play an essential role in the modern financial system and are relied on by creditors and investors on the market. In the recent financial crisis, their power and reliability were often questioned, yet a simple rating downgrade could threaten to bankrupt a whole country. This book examines the governance of credit rating agencies, as expressed by their ability to fairly, ethically and consistently assign higher rates to issuers having lesser default risks. However, factors such as the drive for increased revenue and market share, the inadequate business model, the inadequate methodology of assessing risk, opacity and inadequate internal monitoring have all been identified as critical governance failures for credit agencies. This book explores these issues, and proposes some potential solutions and improvements. This will be of interest to researchers and advanced students of corporate finance, finance, financial economics, risk management, investment management, and banking.
Author: Tarun Jain
Publisher:
ISBN:
Category :
Languages : en
Pages : 24
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Book Description
Credit Rating Agencies (CRAs) influence investor behavior and regulate issuers' access to financial markets and thus, they act as markets' gatekeepers. Further, given the statutory requirements for rating of securities before trading can commence thereon, CRAs occupy an intriguing inter-twined position of quasi-public regulators charged with the implementation of good governance norms and informational intermediaries seeking to protect the investors by purging the markets of information asymmetry. However, the conflict of interest issues add complexity to this scenario and the role of CRAs, after their complicity in the sub-prime mortgage crisis, is being debated internationally.In this paper we examine the role and positioning of the CRAs in the capital markets of India, with a critical eye to SEBI (Credit Rating Agencies) Regulations, 1999, the regulatory framework governing the CRAs. We ferret out the shortfalls that the existing framework carries and taking cues from the US Nationally Recognized Statistical Rating Organizations (NRSROs) model and also the standards proposed by International Organization for Securities Commissions (IOSCO), present a case for reform of the existing framework for CRA regulation in India. The chapterization is as follows:(I) Introduction (II) Credit Ratings and Credit Rating Agencies: Pivotal for Good Governance?(III) Rating Agency Failures: Imprimatur for Regulatory Oversight?(IV) Regulating Credit Rating Agencies: Lessons from Abroad(V) Regulatory Framework for Credit Rating Agencies in India(VI) The Road to Reform in India(VII) Conclusion.
Author: Kuljeet Kaur
Publisher: LAP Lambert Academic Publishing
ISBN: 9783659254482
Category :
Languages : en
Pages : 328
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Book Description
The book talks about the four major Credit Rating Agencies in India including CRISIL, ICRA, CARE and FITCH. It gives a detailed information regarding operations undertaken by these rating agencies. The regulatory environment affecting the credit rating activities in India has been discussed in the book. The methodology adopted by Credit Rating Agencies while rating and variability in rating over the period has also been analysed in the book. The book evaluates the post rating performance of various companies rated by the given rating agencies. In addition the perceptions of investors regarding credit rating practices in India has also been covered in the book.
Author: Arun Ramamurthy
Publisher: Notion Press
ISBN: 935206299X
Category : Business & Economics
Languages : en
Pages : 132
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Book Description
Unlock the Power of your Credit Score is India's first book on credit scores. CIBIL Scores and Credit Reports have become an integral part of our lives. With around 28 crore people in India having a credit score and a very small number among them understanding its true importance, this book is an endeavor to demystify the “Credit Score” and guide people on how they can harness its true potential.
Author: Herwig Langohr
Publisher: John Wiley & Sons
ISBN: 0470714352
Category : Business & Economics
Languages : en
Pages : 524
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Book Description
Credit rating agencies play a critical role in capital markets, guiding the asset allocation of institutional investors as private capital moves freely around the world in search of the best trade-off between risk and return. However, they have also been strongly criticised for failing to spot the Asian crisis in the early 1990s, the Enron, WorldCom and Parmalat collapses in the early 2000s and finally for their ratings of subprime-related structured finance instruments and their role in the current financial crisis. This book is a guide to ratings, the ratings industry and the mechanics and economics of obtaining a rating. It sheds light on the role that the agencies play in the international financial markets. It avoids the sensationalist approach often associated with studies of rating scandals and the financial crisis, and instead provides an objective and critical analysis of the business of ratings. The book will be of practical use to any individual who has to deal with ratings and the ratings industry in their day-to-day job. Reviews "Rating agencies fulfil an important role in the capital markets, but given their power, they are frequently the object of criticism. Some of it is justified but most of it portrays a lack of understanding of their business. In their book The Rating Agencies and their Credit Ratings, Herwig and Patricia Langohr provide an excellent economic background to the role of rating agencies and also a thorough understanding of their business and the problems they face. I recommend this book to all those who have an interest in this somewhat arcane but extremely important area." -Robin Monro-Davies, Former CEO, Fitch Ratings. "At a time of unprecedented public and political scrutiny of the effectiveness and indeed the basic business model of the Credit Rating industry, and heightened concerns regarding the transparency and accountability of the leading agencies, this book provides a commendably comprehensive overview, and should provide invaluable assistance in the ongoing debate." -Rupert Atkinson, Managing Director, Head of Credit Advisory Group, Morgan Stanley and member of the SIFMA Rating Agency Task Force "The Langohrs have provided useful information in a field where one frequently finds only opinions or misconceptions. They supply a firm base from which to understand changes now underway. A well-read copy of this monograph should be close to the desk of every investor, issuer and financial regulator, legislator or commentator." -John Grout, Policy and Technical Director, The Association of Corporate Treasurers
Author: G. Ramesh Babu
Publisher: Concept Publishing Company
ISBN: 9788180692185
Category : Financial services industry
Languages : en
Pages : 616
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Book Description
Author: Bheemanagouda
Publisher:
ISBN: 9789380626314
Category : Capital market
Languages : en
Pages : 210
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Book Description
