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3.±ÉÃtÂUÀ¼À£ÀÄß ¥ÀqÉzÀ ¸ÀA¸ÉÜUÀ¼ÀÄ vÀªÀÄä ªÀåªÀºÁgÀzÀ°è ¥ÀÆwð «¥À¯ÁVgÀªÀzÀÄAlÄ, 4.EªÀÅ PÀA¥À¤UÉ ¸ÀA§A¢ü¹zÀAvÉ ¸ÁPÀµÀÄÖ ªÁ¸À«, Û PÀ ªÀiÁ»wAiÀÄ£ÀÄß ¥ÀgÉʸÀĪÀ¢®è, 5.C£ÉÃPÀ ¸ÀAzÀ¨sÀðUÀ¼À°è ±ÉæÃtÂÃPÀgÀt ¸ÀA¸ÉÜUÀ¼ÀÄ CwgÉÃPÀzÀ¨sÀAiÀĺÀÄnÖ¸ÀĪÀ vÀ¥ÀÄà ±ÉæÃtÂUÀ¼À£ÀÄß PÉÆnÖªÉ, 6.¸Á®¥ÀvÀæUÀ¼À£ÀÄß ªÀÄvÀÄÛ ¨ÁAqÀÄUÀ¼À£ÀÄß ±ÉæÃtÂÃPÀj¸ÀĪÁUÀ F ¸ÀA¸ÉÜUÀ¼ÀÄ ºÀ®ªÁgÀÄ ¸ÀªÀĸÉåUÀ¼À£ÀÄß, JzÀÄj¸ÀÄwÛª.É, 7.PÉ®ªÀÅ ¸À® PÀA¥À¤AiÀÄ MzÀV¹zÀ ªÀiÁ»wUÀ¼ÀÄ C¥ÀÆtðªÁVgÀÄvÀª, Û É., , 5.CREDIT RATING AGENCIES IN INDIA, Currently there are four credit rating agencies in India., 1. Credit Rating Information Service Ltd. (CRISIL) : 20 :, 2. Information and Credit Rating Agency of India (ICRA), 3. Credit Analysis and Research (CARE), 4. Duff Phelps Credit Rating Pvt. Ltd. (DCR India), 1. Credit Rating Information Service Ltd. (CRISIL) : On January 1, 1988 the Industrial, Credit and Investment Corporation of India (ICICI) and Unit Trust of India (UTI) joined, hands to float CRISIL, first rating agency in India with an equity base of Rs.4.00 crores., Each of them holds 18 per cent of the stock. CRISIL became a public limited company in, November 1993 and is presently a quoted company on the Bombay Stock Exchange., Credit Rating Symbols : CRISIL uses the conventional rating symbols used in the USA, and widely accepted in many other countries. The following table shows the investment, wise rating symbols assigned by CRISIL and the meaning of each rating from the angle of, safety to the investors., Debenture Rating, Implications, Fixed Deposit Ratings, Implications, AAA (Triple A, Highest Safety, F-TripleA-(FAAA), Highest Safety, AA (Double A), High Safety, F-Double A-(FAA), High Safety, A, Adequate Safety, F-SingleA(FA), Adequate, Safety, BBB (Triple B), Moderate Safety, F-SingleB(FB), Inadequate, Safety, BB (Double B, Inadequate Safety, F-SingleC(FC), High Risk, B, High Risk, F-SingleD(FD), Default, C, Substantial Risk, D, Default, Short term Instruments, P-1 -Highest Safety, P-2 –High Safety, P-3 – Adequate safety, P-4 – Inadequate safety P-5-Default, 2. ICRA Ltd: It started operations in 1991. In order to bring international experience and, practices to the Indian capital markets, the ICRA has entered into a MOU with Moody’s, Investors Service to provide, through its company Financial Programmes Inc (FPI), credit, education, risk management software, credit research and consulting services to banks,, financial/investment institutions, financial services companies and mutual funds in India., Long term instr. Implications, Fixed Deposit Ratings, Implications, Rating, LAAA, Highest Safety, MAAA, Highest Safety, LAA+,LAA, High Safety, MAA+,MAA, High Safety, LA+,LA, Adequate Safety, MA+,MA, Adequate, Safety, LBBB, Moderate Safety, MB+.MB, Inadequate, , Safety, LBB+,LBB, Inadequate Safety, MC+,MC, Risk Prone, LB+,LB, Risk Prone, MD, Default, LC+,LC, Substantial Risk, LD, Default, Short term Instruments, A1+,A1 -Highest Safety, A2+,A2 –High Safety, A3+,A3 – Adequate safety, A4+,A4–Inadequate safety A5-Default, 3. CARE Ltd. : The CARE Ltd. is a credit rating and information services company promoted, by the Industrial Development Bank of India (IDBI) jointly with financial institutions,, public/private sector banks and private finance companies. It commenced its credit rating, operations in October 1993 and offers a wide range of products and services in the field of, credit information and equity research. Unlike the CRISIL and the ICRA, the CARE is very, cautions in entering new areas of business. Currently, it offers the following services:, CAR-1, Excellent debt management capability, CAR-2, Very good management capability, CAR-3, Good capability in debt management, CAR-4, Barely satisfactory capability for debt management, CAR-5, Poor capability for debt management, 4.FITCH Ratings India Ltd: It is an international rating agency that provides global capital, market investors with the highest quality ratings and research. It entities in 75 countries and, has some 1100 employees in more than 40 local offices worldwide., Debenture, Implications, Fixed Deposit Implications, Rating, Ratings, AAA (ind), Highest Credit Quality, tAAA(Ind), Highest Credit Quality, AA ((ind), High Credit Quality, tAA+(Ind), High Credit Quality, A(ind), Adequate Credit Quality, tA+(Ind), AdequateCredit Quality, BBB (ind), Moderate Credity Quality, tB+(Ind), Spculative, BB (ind), Spculative, tC(Ind), High default risk, B(ind), High Speculative, tD(Ind), Default, C(ind), High default risk, D (ind), Default, Short term Instruments, F1+(Ind)- Highest Credit Quality, F2+(Ind)- Good Credit Quality, F3 (Ind)- Fair Credit Quality, F4(Ind)-Speculative, F5(Ind)-default