Agency gave Deccan top rating as it went on borrowing spree

Credit ratings agency CARE, which has been in business for almost two decades now, claims in its corporate presentation that it provides investors and risk managers timely and insightful opinions. But for the lenders of Deccan Chronicle Holdings Ltd (DCHL), which CARE had been rating for eight years, the credit opinions have hardly helped. In fact, critics are accusing CARE of being clueless about the fortunes of DCHL as it slipped deep into trouble.

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