Market 'downgrades' credit rating agencies, shares dive up to 57% in one year
Updated : August 26, 2019 03:13 PM IST
Credit rating agencies (CRA) in last one year seem to have met its own bad fate after three major listed CRAs in India report substantial downfall in their share price.
In last one year, ICRA has plunged nearly 29 percent, CRISIL declined 27 percent and CARE Ratings fell 57 percent.
Credit rating agencies have been primarily hit by regulatory costs and higher operating expenses that will weigh operating margins going ahead.