INFOMERICS is a full-service rating agency. It provides rating services for the entire range of money market & capital market instruments and borrowing programmes like Non-Convertible Debentures, Commercial Papers, Tier I & Tier II Bonds, Perpetual Bonds, Structured Obligations (including Guarantee Backed Debt programme), and Securitisation Transactions. Infomerics also rates various schemes of Mutual Funds and Alternative Investment Fund. Our grading services encompass Corporate Governance rating, Grading of Construction entities, Grading of Engineering & Management institutions, Grading of Initial Public Offerings and listed equity shares and many more.

INFOMERICS has developed robust rating & grading criteria and methodologies and is extensively offering its products to various clientele.

Infomerics ratings would assist issuers and borrowers in facilitating their access to varied funding avenues, widening the range of funding alternatives and the investor base and optimizing the cost of funds.

Investors and lenders can use our ratings to strongly supplement their internal evaluation process and to benchmark credit quality across investment/lending options. For the markets at large, our ratings act as a benchmark for pricing and trading of debt instruments.

Credit rating is a comment on the relative likelihood of default of a debt instrument in comparison to other rated instruments. In other words, a rating indicates the probability of default of the rated instrument and therefore provides a benchmark for measuring and pricing credit risk. A credit rating compresses an enormous amount of diverse information into a single rating symbol.

RATING SCALE AND DEFINITIONS

INFOMERICS ASSIGNS CREDIT RATINGS UNDER THE FOLLOWING FIVE CATEGORIES:

  Rating categories   Definition
  Long Term The term ‘long term instruments’ includes bonds, debentures, other debt securities, bank loans and other fund-based facilities with an original maturity of more than one year. Long term ratings are assigned on a 20 point scale from ‘IVR AAA’ to ‘IVR D’
  Short term The term ‘short term instruments’ refers to commercial paper, short term debentures, certificates of deposit, inter-corporate deposits, working capital borrowings, and other fund based and non-fund based facilities with an original maturity of one year or less. Short term ratings are assigned on a 9 point scale from ‘IVR A1’ to ‘IVR A4’ and ‘IVR D’ denoting default.
  Structured finance ratings Infomerics assigns ratings to long term and short term structured finance instruments by using a suffix ‘SO’. Instruments with an original maturity of more than one year are rated on long term scale whereas instruments with an original maturity of one year or less are rated on short term scale. The structured finance rating categories range from ‘IVR AAA (SO)’ to ‘IVR D (SO)’ on the long term scale and ‘IVR A1 SO’ to ‘IVR A4 (SO)’ on the short term rating scale
  Credit Enhanced Ratings INFOMERICS assigns ratings to long term and short instruments / facilities which are explicitly backed by external credit enhancement by using a suffix of ‘CE’. Instruments / facilities with an original maturity of over one year are rated on the long term scale whereas the instruments / facilities with an original maturity of less than one year are rated on the short term scale. The credit enhanced rating categories range from ‘IVR AAA (CE)’ to ‘IVR D (CE)’ on the long term rating scale and ‘IVR A1 (CE)’ to ‘IVR A4 (CE)’ on the short term rating scale.
  Fixed Deposit (FD) Infomerics assigns ratings to the FD programmes of corporates, banks and financial institutions with the prefix, ‘F’.
  Issuer credit ratings Infomerics assigns corporate credit ratings to issuers on a scale ranging from ‘IVR AAA (Is)’ to ‘IVR D (Is)’.