Ratings agency Crisil has assigned the highest corporate credit rating of 'CCR AAA' to National Securities Clearing Corporation Ltd (NSCCL).
NSCCL is the clearing and settlement agency for all deals executed on the derivatives (futures and options) segment.
The 'CCR AAA' rating indicates the highest degree of strength with regard to honouring debt obligations.
For seventh consecutive year, Crisil has assigned this rating to NSCCL.
As per Crisil, the rating reflects NSCCL's status as clearing corporation for NSE. The rating also factors in NSCCL's rigorous risk management controls and adequate settlement guarantee cover.
Crisil has further stated that NSCCL's risk management system is comprehensive and is regularly upgraded to check market failures.
The company addresses risks in clearing and settlement with its stringent norms for selection of members, robust margining system, and risk-based position limits and surveillance mechanism.
