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Page 9 - உள்கட்டமைப்பு முதலீடு நம்பிக்கை News Today : Breaking News, Live Updates & Top Stories | Vimarsana

SEBI Tightens Norms for Provisional Rating of Debt Instruments by Credit Rating Agencies

SEBI Tightens Norms for Provisional Rating of Debt Instruments by Credit Rating Agencies Moneylife Digital Team  0 Market regulator Securities and Exchange Board of India (SEBI) has issued  new guidelines to strengthen policies on provisional rating by credit rating agencies (CRAs) for debt instruments. As per new guidelines, CRAs cannot assign a rating, including provisional decisions, to an issuer or client evaluating strategic decisions.   According to the SEBI circular, all provisional ratings (long term or short term) for debt instruments need to be prefixed as provisional before the rating symbol in all communications rating letter, press release and rating rationale.    The rating rationale should disclose that the credit rating agency has taken an undertaking from the sponsor stating that the key assumptions relating to the assets and capital structure, are in consonance with the details filed by the sponsor with SEBI, the regulator says.

PowerGrid InvIT garners Rs 3,480 cr from anchor investors ahead of IPO

PowerGrid Infrastructure Investment Trust on Wednesday raised a little over Rs 3,480 crore from anchor investors ahead of its initial public offer, which opens for subscription on Thursday. It has been decided to allocate 34,80,74,100 units at Rs 100 apiece to 47 anchor investors, aggregating the total to Rs 3,480.74 crore, according to a circular uploaded on BSE website. Among the anchor investors are SBI Mutual Fund (MF), HDFC MF, Tata MF, Fidelity Funds, Tata AIA Life Insurance Company, Tata AIG General Insurance Company, SBI Life Insurance Company, UTI MF, ICICI Prudential MF, Sundaram MF, Rainbow Investments Ltd and CPP Investment Board Private Holdings. PowerGrid Infrastructure Investment Trust (PowerGrid InvIT) is owned by state-owned PowerGrid Corporation of India.

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