 "Sebi")
Credit rating agencies (CRAs) have informed markets regulator Securities and Exchange Board of India (Sebi) that the disruption in the rating process, due to the moratorium, could harm financial markets.
Sebi had called a meeting of top executives from CRAs last week to discuss the economic situation and get an update on the credit quality scenario, said people in the know.
The meeting was called ahead of the maturity of debentures issued by non-banking financial companies (NBFCs), worth Rs 2.5 trillion. A large portion of these papers are facing repayment challenges, given the liquidity and payment crisis triggered by the lockdown.
The people
