Rating agency Crisil today announced the launch of a new credit rating framework for infrastructure projects that would facilitate greater participation from long-term investors and lenders.
“Crisil, in consultation with the Ministry of Finance and other stakeholders, has developed a new credit rating framework for infrastructure projects that would facilitate greater participation by long-term investors and lenders,” the rating agency said in a statement.
The new rating system is based on the ‘expected loss’ (EL) methodology. Which means, the rating will be an expert judgement on EL over the life of the debt instrument by taking into account the two pillars of credit risk — the probability of default (PD), and the prospects of recovery, the statement said. Read More…
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