May 18, 2017 / 12:18 PM / 3 months ago

RBI tweaks partial credit enhancement rules for issuers

People walk past the Reserve Bank of India (RBI) head office in Mumbai, India, November 9, 2016.Danish Siddiqui/Files

MUMBAI (Reuters) - The Reserve Bank of India said on Thursday that companies must be rated by at least two credit rating agencies to be eligible to issue debt under the country's partial credit enhancement programme.

Partial credit enhancement allows low-rated corporates to obtain a guarantee from lenders when issuing debt, lowering the cost for issuers and attracting more investors.

Reporting by Suvashree Dey Choudhury; Editing by Rafael Nam

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