CRISIL buys 8.9% in CARE for Rs 436 cr

At a time of surging corporate bond issuance, this will help expand into country's ratings business

CRISIL, majority owned by S&P Global, bought a 8.9 per cent stake in rival CARE Ratings for Rs436 crore, expanding into the country’s ratings business at a time of surging corporate bond issuance.
 
CRISIL said it bought the stake from Canara Bank. The investment comes as corporate bond issuance done through private placements jumped 42.9 per cent to Rs7 lakh crore in the year ended March 2017, from the previous year.
 
The company said India’s ratings sector would continue to benefit from increased issuances of bonds and loans because of rising capital investments and infrastructure financing. “This stake