In order to reduce the cost of of issuance of debt securities and for developing the debt market by affording the issuer with the desired flexibility of structuring of Debt Issues, SEBI has amended provisions of DIP guidelines relating to Debt instruments. Now,rating of only one CRA is required and bonds below investment grade can also be issued..
read more at ...http://www.sebi.gov.in/Index.jsp?contentDisp=WhatsNewScroll&FilePath=/press/2007/2007312.html
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