Sebi to meet rating firms today for reality check

Securities and Exchange Board of India (SEBI) has called for meeting with seven credit rating agencies to discuss the recent downgrades in few mutual funds here today.

Senior officials are set to discuss market conditions and how the credit profile changes can impact the corporate bond market and the mutual fund industry, reports the sources.

The meeting will be attended by leading rating agencies, including Crisil, ICRA, Care Ratings and India Ratings.

SEBI is also looking at the ratings processes of agencies in the backdrop of recent downgrades of two large manufacturing companies.