Tuesday June 6 2017
News Source: Global Exchanges
Focus: Credit Rating
Type: General
Country: India
Link: https://www.indiaratings.co.in/PressRelease?pressReleaseID=27814
India Ratings and Research (Ind-Ra) has affirmed the Indian Clearing Corporation Limited’s (ICCL) Long-Term Issuer Rating at ‘IND AAA’ with a Stable Outlook. The rating, which indicates ICCL’s credit risk profile on Ind-Ra’s credit rating scale, is for the benefit of clearing members that are ICCL’s counterparties.
The rating reflects ICCL’s strong track record (earlier as the internal clearinghouse of BSE Limited) in managing risks in post-trade clearing and settlement and collateral management. Ind-Ra also considers the collateral-backed nature of ICCL’s business model and BSE group’s governance framework. A proactive regulatory regime along with BSE’s high capitalisation relative to ICCL’s settlement volumes also provides comfort.
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