(Bloomberg) — Shares of rating companies that missed signs of a default that triggered India’s mini-Lehman moment are soaring after the nation’s markets regulator imposed only a small penalty.Care Ratings Ltd. posted record gains and Icra Ltd. saw its biggest four-day advance in more than a year after the Securities and Exchange Board of India on Dec. 26 fined them 2.5 million rupees ($35,000) each on charges they overlooked facts while assessing Infrastructure Leasing & Financial Services Ltd. The probes didn’t find any malafide intent.“The penalty is very low and there has been no major stricture passed against the rating …read more
Source:: Yahoo Finance
