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How Credit Rating Agencies Missed The Epic Unraveling Of IL&FS: Report

Infrastructure lender IL&FS struggling to service $12.6 billion in debt In August, major credit rating agencies began to downgrade IL&FS IL&FS Group debt burden jumped 44% from 2015 to 2018

IL&FS is a huge borrower, accounting for 2% of outstanding commercial paper.
IL&FS is a huge borrower, accounting for 2% of outstanding commercial paper.
Indian authorities have spent the week containing the collateral damage from a major infrastructure lender struggling to service $12.6 billion in debt. Next up: Figuring out why the nation's credit rating agencies didn't see the crisis coming.
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