CRISIL has welcomed the Securities and Exchange Board of India’s (SEBI) amendments to the regulations on credit rating agencies (CRAs) and companies with listed debt, which will raise industry standards and deepen the corporate bond market in India.
The proposed guidelines raise the bar on the eligibility to set up a CRA and stipulate greater disclosure for issuers on their financial performance. Higher minimum net worth requirements for CRAs and increased shareholding requirements along with minimum holding period for promoters of CRAs will ensure that only serious and credible players with long-term perspective enter the field.
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