The Department of Public Enterprises (DPE), under the Ministry of Finance, in partnership with the Standing Conference of Public Enterprises (SCOPE), organised an interactive half-day workshop in New Delhi to strengthen the understanding of credit rating processes among Maharatna and Navratna Central Public Sector Enterprises (CPSEs).
The programme formed part of DPE’s continuing capacity-building efforts aimed at improving management practices and strengthening the financial capabilities of CPSEs. The workshop brought senior representatives of leading domestic and international credit rating agencies together with finance executives from major public sector enterprises, creating a platform for discussions on credit assessment, risk evaluation and debt-market dynamics.
Delivering the keynote address, Secretary, DPE, Shri K. Moses Chalai, highlighted the strong operational performance of CPSEs and their important role in supporting India’s economic growth. He also drew attention to the opportunities available to CPSEs as well as the challenges they face in an evolving financial and business environment.
Shri Chalai emphasised the importance of making credit rating processes more transparent, efficient and better aligned with the realities of the Indian economy. A stronger understanding between CPSEs and rating agencies, he noted, can contribute to more effective assessment of the financial position and creditworthiness of public sector enterprises.
Setting the context for the workshop, Dr. Vasundhara Upmanyu, Joint Secretary, DPE, explained the significance of credit rating agencies in providing independent and objective assessments of financial strength, risk and credibility. She stressed the importance of maintaining sustained dialogue between CPSEs and credit assessors to improve transparency and facilitate a better understanding of the factors influencing credit ratings.
Earlier, Dr. Atul Sobti, Director General, SCOPE, welcomed the dignitaries, rating agency representatives and delegates. He highlighted the importance of collaborative platforms that allow CPSEs to engage directly with financial-sector experts and understand evolving expectations in credit assessment.
The technical sessions featured presentations from CareEdge Global IFSC Limited, CARE Ratings Limited, CRISIL Ratings Limited, ICRA Ratings Limited and Infomerics Valuation and Rating Limited. The presentations covered key aspects of credit rating methodologies, risk pricing and developments in the debt market.
The workshop also included interactive discussions between senior CPSE leadership and representatives of the rating agencies. Particular attention was given to transparent disclosures and strategies for capital structure optimisation. These discussions provided participants with an opportunity to understand rating considerations and discuss issues affecting the assessment of CPSEs.
More than 80 senior finance executives from Maharatna and Navratna CPSEs participated in the programme. The participants included Directors (Finance), Executive Directors and General Managers, representing the financial leadership of some of India’s largest public sector enterprises.
Credit rating agencies have an important role in financial markets by evaluating credit risk and providing information that assists investors and lenders in assessing the financial standing of borrowing entities. Their assessments can also support regulatory requirements and contribute to greater transparency in the debt market.
For CPSEs, closer engagement with rating agencies can help improve the quality and consistency of financial disclosures, strengthen understanding of risk factors and support informed decisions relating to capital structure and financing. Better communication can also help enterprises present their financial and operational strengths more effectively during the rating process.
The workshop was widely appreciated by participating CPSEs as an initiative that encouraged direct and constructive engagement with credit rating institutions. By facilitating continued dialogue between public enterprises and financial-sector stakeholders, DPE and SCOPE are seeking to enhance the capacity of CPSEs to navigate changing financial-market requirements while supporting their broader contribution to India’s economic development.
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Author: Shivam
Shivam Dwivedi is a senior journalist with extensive experience in research-driven journalism, policy communication, and multi-platform storytelling. His areas of interest include international relations, defence, science & technology, education, urban development, agriculture, spirituality, and environmental sustainability. His work focuses on in-depth analysis, public discourse, and impactful narratives across governance and development sectors, with a strong commitment to the Sustainable Development Goals (SDGs). Contact: [email protected]
