{"id":268087,"date":"2019-04-05T04:44:08","date_gmt":"2019-04-05T04:44:08","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=268087"},"modified":"2019-04-05T04:47:38","modified_gmt":"2019-04-05T04:47:38","slug":"ilfs-crisis-raises-questions-about-rating-agencies-injeti-srinivas","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ilfs-crisis-raises-questions-about-rating-agencies-injeti-srinivas\/","title":{"rendered":"IL&amp;FS crisis raises questions about rating agencies: Injeti Srinivas"},"content":{"rendered":"<p>The unravelling of IL&amp;FS, the debt-laden infrastructure financing and construction company, has hurt the credibility of rating agencies, said Corporate Affairs Secretary Injeti Srinivas Thursday. <\/p>\n<p>India Ratings &amp; Research, ICRA, and Credit Analysis and Research Ltd gave IL&amp;FS the highest rating of AAA when the company&#8217;s subsidiary, IL&amp;FS Transport Networks, defaulted in June, said Srinivas at the annual summit of the Confederation of Indian Industry in New Delhi. <\/p>\n<p>Rating agencies suddenly downgraded bonds sold by IL&amp;FS and related entities when they defaulted on payment obligations in September. Bonds went from high investment grade&#8211;AA+ in some cases&#8211;to default or junk.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The unravelling of IL&amp;FS, the debt-laden infrastructure financing and construction company, has hurt the credibility of rating agencies, said Corporate Affairs Secretary Injeti Srinivas Thursday. India Ratings &amp; Research, ICRA, and Credit Analysis and Research Ltd gave IL&amp;FS the highest rating of AAA when the company&#8217;s subsidiary, IL&amp;FS Transport Networks, defaulted in June, said Srinivas at the annual summit of the Confederation of Indian Industry in New Delhi. Rating agencies suddenly downgraded bonds sold by IL&amp;FS and related entities when they defaulted on payment obligations in September. Bonds went from high investment grade&#8211;AA+ in some cases&#8211;to default or junk.<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,168],"tags":[],"class_list":["post-268087","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-roads-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/268087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=268087"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/268087\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=268087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=268087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=268087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}