SEBI tables concern with rating agencies amid worries in corp debt investments

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Mumbai, Oct 27 (ANI): In the wake of growing worries about corporate debt investments, Securities and Exchange Board of India (SEBI) chief UK Sinha on Tuesday (October 27) said the security market regulator has called the rating agencies and tabled his concerns. Sinha’s comments came amid growing worries about corporate debt investments by asset managers after a unit of JP Morgan in India suffered significant mark-to-market losses in late August when auto-parts maker Amtek Auto Ltd’s debt was downgraded by rating agencies. Sinha noted that SEBI would come out with a new set of regulations for the distribution of mutual fund products, “hopefully” in a couple months. Meanwhile, according to reports, SEBI has asked the industry to be more careful with investments and procedures. Sinha added that SEBI is taking desired steps and has put forward its concern with the rating agencies.

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