Credit Ratings agencies in india

A CRISIL rating reflects CRISIL's current opinion on the relative likelihood of timely payment of interest and
principal on the rated obligation. It is an unbiased, objective, and independent opinion as to the issuer's capacity
to meet its financial obligations.
So far, CRISIL has rated 30,000 debt instruments, covering the entire debt market.
The debt obligations rated by CRISIL include:

Non-convertible debentures/bonds/preference shares

Commercial papers/certificates of deposits/short-term debt

Fixed deposits

Loans

Structured debt

CRISIL Ratings' clientele includes all the industry majors - 23 of the BSE Sensex constituent companies and 39
of the NSE Nifty constituent companies, accounting for 80 per cent of the equity market capitalisation, are
CRISIL's clients.
CRISIL's credit ratings are

An opinion on probability of default on the rated obligation

Forward looking

Specific to the obligation being rated

But they are not

A comment on the issuer's general performance

An indication of the potential price of the issuers' bonds or equity shares

Indicative of the suitability of the issue to the investor

A recommendation to buy/sell/hold a particular security

A statutory or non-statutory audit of the issuer

An opinion on the associates, affiliates, or group companies, or the promoters, directors, or officers of

the issuer
CRISIL ratings are based on a robust and clearly articulated analytical framework, which ensures
comprehensiveness, standardisation, comparability, and effective communication of the ratings assigned and of
every timely rating action. The assessment is based on the highest standards of independence and analytical
rigour.
CRISIL rates a wide range of entities, including:

Industrial companies

Banks

Non-banking financial companies (NBFCs)

Infrastructure entities

Microfinance institutions

Insurance companies

Mutual funds

State governments

Urban local bodies