Financial Daily from THE HINDU group of publications
Sunday, Apr 10, 2005
Financial Daily from THE HINDU group of publications Sunday, Apr 10, 2005 |
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Corporate
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Credit Rating ICRA revises rating definitions Our Bureau
New Delhi , April 9 ICRA Ltd has decided to simplify and revise its rating definitions. The main objective behind the change is to enhance the user's appreciation of ICRA's ratings. The revised definitions do not seek to impart new meaning to the ratings, but are meant to improve their clarity, according to ICRA. Thus, the new definitions do not warrant any change in the ratings outstanding. ICRA has, however, changed its earlier policy of assigning medium-term ratings to bonds/non-convertible debentures with original maturity exceeding one year but within three years. From now on, ICRA will rate fresh issues of this kind on its long-term rating scale. However, the instruments, which are currently outstanding, will not be assigned long-term ratings and will continue to carry ICRA's medium-term rating till maturity. ICRA will continue to rate public deposits on its medium-term rating scale. ICRA's long-term rating scale will be applicable for all bonds, non-convertible debentures and other debt instruments (excluding public deposits) with original maturity exceeding one year.
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