Thursday, April 16, 2015

SEBI norms on Municipal Bonds

The Securities and Exchange Board of India (SEBI) approved new norms for issuing and listing of municipal bonds on stock exchanges. Municipal bonds are debt instruments issued by a state or municipality to finance its capital expenditure for construction of highways, bridges, schools, etc. The new norms have lowered the mandatory credit rating from at least A+ to BBB- currently.

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