Sebi Mulls Dual Credit Ratings

The Securities and Exchange Board of India (Sebi) may consider the possibility of introducing a dual credit rating system for large sized debt issues.

This was stated by Vijay Ranjan, executive director, Sebi, while speaking at the conference to discuss the future of the primary markets.

Currently, most of the ratings are done by one agency. The market watchdog feels that this system should change though there is little clarity on when this could come about. According to sources, a dual credit rating system would help to get a different view on the issue, particularly if these are `unsolicited in nature.

Marketmen who attended the session also spoke of the problems faced in mobilisation of funds in various segments of the debt market, - corporate bonds, PSU bonds and gilts.