Do Indian firms get to party with top ratings compared to global peers?

The size of the local bond market is just 16 per cent of the GDP; it is 120 per cent in the US

Do Indian companies get to party with top ratings compared to their global peers? Over the last decade, 276 home-grown companies were assigned triple-A billings by credit rating agencies; this compares with the nine given by Standard & Poor’s and 53 by Moody’s. Given the cloud over ratings in recent times, it may appear local credit rating agencies (CRAs) are into confetti-ratings.

But a deeper look at the data shows triple-A in India accounting for only 0.85 per cent of the rated universe of firms, compared to China’s 13 per cent, Taiwan’s 9 per cent, and Thailand’s 5 per cent. Korea