Credit Rating Agencies
Credit Rating Agencies
Credit Rating Agencies
1895
New to INDIA(1990)
* A Symbolic Indicator to the
current opinion of a rating
agency of the relative capacity
of the issuer to service its debt
obligation in a timely fashion
* It is specific to debt
instrument
It is an analysis of the
credit risk associated
with a particular instrument and not with a
company
Objective
To provide guidance to
investors in determining
the credit risk associated
with a debt instrument
Benefits
1. superior information
2. calculated risk
3. encourages investment
ratings
ratings
ratings
ratings
CRISIL(Credit Rating
Information Services of
India Ltd) is the largest
credit rating agency in
India. It was established in
1987.
The worlds largest rating
agency Standard & Poor's
now holds majority stake in
CRISIL.
Fitch Ratings
Fitch Ratings is a global rating agency
committed to providing the world's credit
markets with independent and prospective
credit opinions, research, and data. Fitch
Ratings is headquartered in New York and
London and is part of the Fitch Group.
ICRA(Investment
Information and Credit
Rating Agency of India
Ltd)was established in 1991
by leading Indian financial
institutions and commercial
banks. International credit
rating agency, Moodys, is
the largest shareholder.
Credit Ratings
Bonds/ LT instruments
CPs/ ST instruments
Bank Loan Ratings (Basel II)
SME Ratings
Real Estate Ratings
Business School Gradings
Other Ratings
Company Name
Industry
Instrument
Rating
Outlook
3M India Limited
Industrial Conglomerates
CRISIL AAA
Stable
3S Infrastructure
CRISIL B
Stable
3i Infotech Limited
IT Services
CRISIL D
CRISIL D
Industry
Short-Term Loan
Cash Credit Limit
Instrument
CRISIL D
CRISIL D
CRISIL BB-
Rating
Stable
Outlook
3M India Limited
Industrial Conglomerates
CRISIL AAA
Stable
3S Infrastructure
CRISIL B
Stable
3i Infotech Limited
IT Services
CRISIL D
CRISIL D
CRISIL D
CRISIL D
The RatingCRISIL
symbols
RATINGS
AAA/FAAA/ = HIGHEST
AA/FAA = HIGH
A/FA = ADEQUATE
BBB = MODERATE
BB/FB = INADEQUATE
SAFETY
SAFETY
SAFETY
SAFETY
SAFETY
ICRA
SAFETY
A3 =
ADEQUATE
SAFETY
A4 = RISK
PRONE