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CRISIL
Ratings is the preferred choice of investors because of
the quality and consistency of its ratings.
CRISIL's default and transition rates meet the
key requirements of higher ratings being less
likely to default and less likely to change than
lower ratings. CRISIL is committed to the quality
of its ratings and to providing the highest level
of service to investors. Towards this end CRISIL
has incorporated several international best practices
into its structure, functioning and processes.
Listed below are reasons why CRISIL is considered
the agency of choice for our investors
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CRISIL commands the highest credibility among
investors due to its continuing commitment to
the highest standards of analytical rigour
and transparency regarding its analytical
approach when it assigns ratings.
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| Long
track record of timely rating actions |
At CRISIL,
the commitment is to ensure that the ratings it
assigns accurately reflect its expectations of
the future. This, even as we strive to maintain
the stability of our ratings at
appropriate levels. Thus, CRISIL was the first rating agency
in India to effect a downward revision of its ratings
in the second half of the 1990s, anticipating the
impact of the liberalization of the economy.
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| Deeper
analytical insights due to wider coverage |
CRISIL
is the market leader in the ratings business in India.
Hence, CRISIL rates virtually all the large players
in almost every industry/sector in India. This,
coupled with our sector focused analytical teams,
ensures that our ratings reflect the most
comprehensive understanding of industry
fundamentals as indeed the relative strengths
and weaknesses of competing players.
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| Rating
desk to meet investor needs |
CRISIL
has set up a Rating
Desk in 1999 to ensure that all queries on our
ratings are speedily addressed. The CRISIL Rating Desk
has been growing from strength to strength, serving
as an effective and convenient way for investors to
access clarifications and information on CRISIL Ratings.
The rating desk achieved an impressive response time of
less than 30 minutes for all investor queries, in 2003.
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| Extensive
suite of published criteria for Indian conditions |
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| Dedicated
investor outreach team |
A dedicated
team focused on outreach efforts was set up in 2001.
The key objective of this group is to ensure that investors
are regularly updated about CRISIL’s methodologies
and understanding of key sectors though regular publications
and investor seminars. Investor feedback
is sought on our communication of information and actions
and incorporated in CRISIL’s rating reports to
make it provide a clearer understanding and sharper
analyses than before. |
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| Sector-focused
analytical teams |
These
teams have a deep appreciation of business fundamentals
in their respective business sectors. |
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| A
dedicated in-house criteria team |
A dedicated
team, focused on outreach efforts, was set up in 2001.
The key objective of this group is to ensure that
investors are regularly updated on CRISIL's
methodologies and studies of key sectors through
regular publications and investor seminars. Investor feedback is sought on our communication of information and actions and incorporated in CRISIL's rating reports. This process helps CRISIL to provide a clearer understanding and present sharper analyses.
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| In-house
industry and economic research team |
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| Separation
of business development function from rating analysis |
The
existence of a business development team independent
of the analysts' team, enhances CRISIL's credibility
in the market. This structure eliminates any conflict
of interest that may arise if the team that markets
a rating service is also involved in assigning
the rating.
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| Separate
criteria committee |
A
separate criteria committee was constituted in 2002
in response to the growth in the number and complexity
of debt instruments. This committee ensures that CRISIL's
criteria and methodologies meet the highest
standards of analytical rigour.
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