Credit Rating Agencies are a product of long drawn out evolution which came to acquire revolutionary speed with the dawn of Globalization. Rating of instruments has become an integral part in investment world. This book divulges in investigating the diverse facets of the evolution of credit rating agencies and services laying emphasis on both theoretical and empirical aspects. It is also an in-depth inquiry into the comparative analysis of rating services, rating determinants, rating methodology, influence of debt rating changes on security prices, investors' awareness and perception towards performance of rating services.The study focuses on the four major and well established SEBI recognised CRAs in India (CRISIL, ICRA, CARE and INDIA RATINGS).