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Govt in talks with Sebi to make credit rating agencies more responsible

Updated : February 06, 2019 06:23 AM IST

Rating agencies have come under pressure after they failed to raise timely red flags ahead of debt defaults by Infrastructure Leasing and Financial Services Ltd (IL&FS) until after a subsidiary defaulted on some of its debt last year.
Sebi, in November last year, issued norms for enhancing disclosures by credit rating agencies, asking them to furnish information whether the rating is factoring in support from a parent, group or government.

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