Rating agencies disclosures......Finally!


A highly welcome move by SEBI in relation to disclosures by rating agencies! It ‘s time for the latter to up their game. Rating agencies have had their fair share of criticism over their involvement in 2008 crisis on a global scale and the recent IL&FS related liquidity crisis in the non-banking sector in India.

Few critical measures in the recent SEBI circular for rating agencies involve disclosing probability of default along with keeping track on bond market spreads.