Key Points
Mumbai: Homegrown Care Ratings Ltd plans to start its sovereign debt ratings service with countries in Asia and Africa, followed by Europe in the long term, a top executive said..
The board of Care Ratings last month approved setting up CareEdge Global IFSC Ltd for the purpose, managing director and group chief executive of CareEdgea group level brand identityMehul Pandya said in an interview..
If the proposal goes through, Care Ratings will be the first Indian rating agency to rate sovereign debt, a space dominated by global companies such as S&P, Moodys and Fitch..
Current regulations do not allow us (Care Ratings) to rate any foreign currency denominated debt," said Pandya, adding the Gift City subsidiary will allow it to rate foreign debt..
In August last year, Moody's Investors Service affirmed India's long-term local and foreign-currency issuer ratings at Baa3, and retained the stable outlook, while flagging risks emanating from high debt burden"..
You might be interested in
India's Sovereign Rating On Robust Growth Outlook, Says Rating Agency Fitch
09, May, 23Fitch Ratings on Tuesday affirmed India's sovereign rating with a stable outlook saying the country has a robust growth outlook and resilient external finances.
S&P analysts say India’s fiscal consolidation path key to ratings upgrade
01, Jun, 24The ratings agency raised India’s sovereign rating outlook to "positive" from "stable" on Wednesday, citing the country's strong economic fundamentals.
India will grow at nearly 7 pc in 2023-24: Sanjeev Sanyal
02, Dec, 23Addressing a programme at the Calcutta Chamber of Commerce, he said there is a need to counter global narratives built on absurd and irrelevant data points, and India's second-largest rating agency CareEdge will soon start publishing sovereign ratings.
Moody’s retains India’s risk rating & 'stable' outlook, highlights Manipur unrest, civil society treatment
19, Aug, 23Ratings agency kept India’s rating & outlook unchanged, citing Indian economy’s growth, banking success on the one hand versus high debt, fiscal deficit and interest payments on the other.
Corporate bonds to gain too: Sebi chief
14, Mar, 24India Business News: MUMBAI: The recent decisions by two of the largest global index management entities, JP Morgan and Bloomberg, to include India's sovereign bonds into .