Credit Rating – I: What To Expect from Rating Agencies
After the deep mess in which Infrastructure Leasing & Financial Services (IL&FS) has landed, everybody’s attention is back on credit ratings. The rating agencies have been accused of deteriorating financials of IL&FS. Whether or not we know much about the functions of rating agencies, it does not stop us from cursing them. 
 
Under the current system, companies pay rating agencies for the...
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