Page 9 - Care Ratings

Coronavirus pandemic could shave off 0.5% of India's GDP: CARE survey

Majority respondents who believe that the RBI will reduce the repo rate, expect a cut between 25 and 50 bps either before or in April 2020

Debt Quality Index declines again in February, says CARE Ratings

However, there was a marginal improvement seen in January this year on account of enhancements in higher rated debt papers

UTI MF, Nippon India MF side pocket Vodafone Idea exposure of Rs 413 cr

In December 2018, regulator Sebi had permitted mutual funds to create segregated portfolios, or side-pocketing, with respect to debt and money market instruments

Care downgrades rating on Vodafone Idea's long term bank facilities, NCDs

It also takes cognizance of recent losses suffered by the company in the quarter ended December

Sebi directs CARE to initiate inquiries into ex-top officials' past conduct

Former CEO'S and chairman's conduct under question

Sebi issues show-case notice to 2 former senior executives of CARE Ratings

This is for the alleged interference in rating action of YES Bank and DHFL

Sebi seeks explanation from CARE's ex-chairman, MD for rating interference

Markets regulator Sebi has sought explanation from erstwhile managing director and CEO, and chairman of CARE Rating for their interference in the rating process of entities including DHFL, IL&FS and Yes Bank, sources said. In a letter on February 12, the Securities and Exchange Board of India (Sebi) has also asked why the officials should not be debarred from associating as key managerial person or director of any registered intermediary and listed company, they added. In addition, the regulator has asked CARE Rating's board to initiate action against the officials and all the staff members involved in the rating process of the IL&FS debt, the sources said. Incidentally, on the same day, the rating agency announced that S B Mainak resigned as its chairman. The Sebi action comes after the regulator received the forensic audit report on February 11, which was commissioned after a whistleblower complaint. The forensic report, prepared by EY, has scrutinised calls, WhatsApp ...

Mainak resigns as CARE Ratings chief after Sebi asks for his removal

Mainak accused of interfering with the ratings of IL&FS, says a forensic report.

Mainak resigns as CARE Ratings chief after Sebi asks for his removal

Consultancy firm EY earlier this week gave Sebi a report recording employee statements, WhatsApp messages and call recordings of CARE employees

CARE Ratings drops 8% as Chairman Mainak steps down after forensic probe

This is the second setback for the rating agency in as many months. Earlier in December 2019, the company's managing director and chief executive officer (MD & CEO) Rajesh Mokashi had stepped down

Time to act is now! PSBs are fast losing market share to private peers

The truth is - falling market share of state-run banks is not something many will want to comment on record

Care Ratings slips 16% in two days as investors pocket profits

In eight trading days -- between December 23, 2019 and January 2, 2020 -- the stock rallied 46 per cent on the back of fund buying

New project announcements during April-December period shrink 29%

A study by CARE Ratings shows that new project announcements by the government tumbled 44%, while those in the private sector fell 19%

Large, medium enterprises see 7-year fall in credit quality in April-Dec

The asset quality deteriorated for small enterprises (SMEs) as well but with lesser intensity, according to CARE Ratings

Steel producers raise prices by Rs 1,000-1,500 a tonne as demand perks up

India's iron ore imports tumbled 90 per cent year-on-year during April-October, after a sharp escalation of 172 per cent in the comparable period last year, said CARE Ratings in its report

Credit rating agencies in focus; CARE Ratings surges 19%, ICRA 10%

Most of the credit rating agencies had reported de-growth in their operational revenue during the first half of financial year 2019-20 (FY20).

States likely to step up borrowing in 4th quarter for social expenditures

Almost all states have raised much more debt than at the same time last year, except Maharashtra.

CARE downgrades Hindustan Aeronautics' rating as receivables rise

HAL is majorly owned by the government and has a strategic role in the defence programme.

IL&FS case: Sebi imposes Rs 25 lakh fine on rating agencies ICRA, CARE

The regulator has given 45 days for the payment of penalty, which was levied under Section 15HB of the Sebi Act.

IL&FS case: Sebi fines ICRA, CARE Rs 2.5 mln each for poor due diligence

Markets regulator Sebi on Thursday imposed a penalty of Rs 25 lakh each on rating agencies ICRA and CARE for failing to exercise "due diligence" while assigning credit rating to the non-convertible debentures of IL&FS. Sebi also said the default by IL&FS occurred due to "lethargic indifference and needless procrastination and laxity" of these rating agencies. The case relates to the default committed by IL&FS and its subsidiary IL&FS Financial Services on their obligations in respect of the commercial paper, inter-corporate deposits (ICDs), as well as on interest payments related to the non-convertible debentures (NCDs). The regulator undertook an examination with respect to the role of the credit rating agencies (CRAs), including CARE Ratings Ltd and ICRA Ltd, in assigning rating to various NCDs of Infrastructure Leasing and Financial Services (IL&FS). According to Sebi, IL&FS and its group companies' financial parameters, especially short-term borrowings, ...