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2013-03-22

Demand for SME ratings was steady in 2012: CRISIL report

Rating agency CRISIL in its annual report 2012 has stated that the demand for SME ratings was steady during the year despite a sluggish overall business environment. The agency assigned more than 10,000 SME ratings during the year and is expecting increas

Rating agency CRISIL in its annual report 2012 has stated that the demand for SME ratings was steady during the year despite a sluggish overall business environment. The agency assigned more than 10,000 SME ratings during the year and is expecting increased ratings this year.

“The demand for Small and Medium Enterprise (SME) ratings was steady during the year. Enhanced awareness about the benefits of ratings, the banks’ growing acceptance of CRISIL’s SME ratings, and CRISIL’s intensive outreach initiatives and expansion into new markets and territories are expected to continue spurring demand for SME ratings in 2013, despite the challenging business environment,” the report said.

The report further stated that the domestic environment remained challenging during 2012 with slowing demand, high inflation and interest rates, and tight liquidity. The global macroeconomic conditions deteriorated, with recession in the Eurozone, and slackening in the US economy. These factors resulted in a weak investment climate, and subdued debt markets in India.

The bank loan ratings (BLRs) in 2012, according to the report showed healthy growth over the previous year and is expected to remain buoyant on the back of the growing trend among small companies to get their loans rated.

However, the bond market may remain sluggish in the first half of 2013, on account of slowdown in the global business environment and the persistently high inflation. But reform measures announced by the Government of India to spur domestic growth, and expected revival in investments in the second half of 2013 may strengthen the long-term prospects for the bond market, the report added.

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