Credit rating agencies evaluate the creditworthiness of issuers of debt instruments and represent this as an alphanumeric code. In India, the major rating agencies are CRISIL, ICRA, and CARE. CRISIL pioneered credit ratings in India in 1987 and provides rating, information, and advisory services. Globally, the "Big Three" credit rating agencies - Moody's, Standard & Poor's, and Fitch Ratings - control approximately 95% of the ratings business.

1. DEBT RATING INSTRUMENTS
GAYATHRI P

2. RATING OF DEBT INSTRUMENTS
• A debt instrument is a paper or electronic obligation that
enables the issuing party to raise funds by promising to repay a
lender in accordance with terms of a contract.
• Rating of organisations evaluate the credit worthiness of an
issuer with respect to debt instruments
• General ability to pay back debt over the specified period of time.
• The rating is given as an alphanumeric code that represents a
graded structure or creditworthiness.

4. CREDIT RATING AGENCIES IN INDIA
• CRISIL
• ICRA
• CARE

5. **CRISIL RATINGS IS INDIA'S LEADING RATING AGENCY.
**PIONEERED THE CONCEPT OF CREDIT RATING IN INDIA
IN 1987

6. • Promoted by IFCI LTD
• It provides Rating, Information and Advisory services
ranging from strategic consulting to risk management and
regulatory practice.
• •To provide regulators with market driven systems to
encourage the healthy growth of capital markets.
• •It provides rating services, information services and
advisory services.

7. • •It offers services like Credit rating of debt
instruments , Advisory services like securitization
transactions, structuring financial instruments,
financing infrastructure projects and municipal
finances , Information services like providing
information to companies, industry and businesses
& Equity research
• •It also provides advisory services in the areas of
securitisation of transactions and structuring
Financial Instruments.

9. GLOBAL RATING AGENCIES
• Credit rating is a highly concentrated industry, with the "Big Three"
credit rating agencies controlling approximately 95% of the ratings
business.

10. MOODY'S INVESTORS SERVICES
• Moody's Investors Service is a
leading provider of credit ratings,
research, and risk analysis.
Moody's commitment and
expertise contributes to
transparent and integrated
financial markets, protecting the
integrity of credit.
• Their published research and
investor briefings draw
thousands of attendees each
year and keep investors current
with the rationale underlying our
credit opinions.

11. STANDARD & POOR'S
• With 26 offices around the
world and a history that dates
back more than 150 years, S&P
Global Ratings provides high-
quality market intelligence in
the form of credit ratings,
research, and thought
leadership.

12. FITCH RATINGS
• Global leader in credit ratings and
research
• Leading provider of credit ratings,
commentary and research.
• Dedicated to providing value beyond the
rating through independent and
prospective credit opinions
• Fitch Ratings offers global perspectives
shaped by strong local market experience
and credit market expertise