Indian ratings agencies fall on report of possible higher fines related to IL&FS scam

ICRA

10/02/2020 06:31

** Shares of Indian ratings agencies fall after report https://www.livemint.com/companies/news/il-fs-sebi-looks-to-levy-higher-penalties-on-three-rating-agencies-11581270221370.html
 Indian markets regulator SEBI looking to levy higher penalties
related to IL&FS scam
    ** Shares of CARE Ratings Ltd  CREI.NS  down as much as 8.3%
to 615.20 rupees, ICRA Ltd  ICRA.NS  down as much as 2.1% to
2865.05 rupees      
    ** SEBI has sent fresh notices to ICRA, CARE for failing to
warn bond investors about the scam at shadow lender
Infrastructure Leasing and Financial Services, the Mint
newspaper reported, citing 2 people with direct knowledge of the
matter
    ** A report https://www.livemint.com/news/india/sebi-penalises-care-and-icra-on-lapses-in-rating-il-fs-11577373033951.html
 in December 2019 said SEBI imposed a penalty of 2.5 mln rupees
on ICRA, CARE over their lapses  urn:newsml:reuters.com:*:nFWN29005S  
    ** CREI shares fell 35.2% in 2019, while ICRA stock fell
4.5% 



($1 = 71.3470 Indian rupees)

 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; outside U.S. +91 99863
58469;))