Program on Enhancing Credit Worthiness thru Credit Rating & Opportunities in Digital Infrastructure

On 20 January, 2017 from 4.00 pm to 6.00 pm at VIA

Speaker: Shri D Ravishankar & Dr. E Shankara Rao,

“ENHANCING CREDIT WORTHINESS THROUGH CREDIT RATING”

 “OPPORTUNITIES IN DIGITAL INFRASTRUCTURE”

Saket Bagdia – convener of Economy & Finance forum started the session in his words about this event of “Enhancing creditworthiness through credit rating” & “Opportunities in digital infrastructure” & gave the brief details about the both the speakers Mr. D. Ravishankar & Dr. E. S. Rao.

Mr. Rohit Agrawal – Chairman of Economy & Finance forum giving the opening remarks in the session said that, in this current economic scenario, we need to have good credit ratings & required the push of digital infrastructure support.

CA O. S. Bagdia, Vice President VIA, welcomed the speakers and stressed on the importance of topic and the benefits industry can reap out of these deliberations.

At the outset, speaker was welcomed by Dr. Suhas Buddhe, Hon’ble secretary- VIA and CA. O.S. Bagadia, Vice president-VIA. They also recognize the presence of the team members from M/s Brickwork ratings (I) Pvt. Ltd, Mr. Ashish Kathode & Mrs. Vipula Sharma.

Founder Director of Brickwork Ratings (I) Pvt Ltd, Mr. D. Ravishankar deliberated that credit ratings can give much impetus to industry not only for banking but also can be used as a benchmark for measuring company’s growth prospects. He covered the basics of creditrating which included what, why and how analysis and the benefits that can be associated with it. He explained the process of understating credit rating, rating scales and definitions. The benefits of credit ratings vis a vis Issuers, Investors, Regulatory authorities and intermediaries was discussed. He gave a glimpse of types of ratings – AAA, AA, A, BBB, BB, B, C D with information on plus and minus scales. He explained the rating criteria and rating process in a lucid manner. He stressed on the importance of information flow from the Company for better evaluation, understanding and determination of appropriate credit rating for any corporate. He realized the importance of corporate governance terming it as the Golden Principle in enhancing rating scales. He identified the broad risk criteria’s and summarized ten best practices for achieving rating enhancements.

Director & CEO of IIFCL Asset Management Company Ltd, Dr E Shankara Rao, commented on the growth of Integrated Infra Eco System linked with Indian Infra Financing Chain connecting to Financing Instruments & intermediaries and explained the role in Indian Digital Infrastructure Growth. He went on to explain the growth in Investment in Infra sector and linked it to growth in GDP Growth. He spoke on the fundamentals of Good Policies and linked that Good Policies lead to Good progress and better governance. The infrastructure growth in India in terms of sector such as Telecom, Electricity, Roads, Ports, airports, SEZ’s and finally smart cities were very well commented on by him. With inputs of integrated Indian Infra & Industry Eco- system development and growth, economic development and social welfare improvements come as output. He spoke on various Financial instruments available and the financial intermediaries available to tackle the requirement. Mr Rao deliberated that business sustainability can occur with proper business identification, scientific business planning, financial planning, enhancing credibility and utilizing digital infra for high productivity and this would result in a win win situation to all stake holders. He recognized the efforts of Mr. Girish Jain, Director D P Jain Infrastructure and thanked him.

CA Naresh Jakhotia, Joint Secretary summed up the event and proposed a formal vote of thanks. It was a highly interactive session attended by a large number of participants. Prominetnly present on the occasion were Chandrashekhar Padgilwar, M.G. Jawanjar, CA. Ranu Surana, CS. Sunil Sharma.

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