Subscriber OnlyMarketsCredit Raters Keep Missing Big Indian Company DefaultsSome companies see rating cuts of 10 levels after the defaultQuestions on quality of ratings may keep some investors awayByRahul Satija+FollowOctober 1, 2019, 12:58 AM UTCUpdated onOctober 1, 2019, 8:40 AM UTCMounting debt failures in India have been catching rating companies off guard, underscoring continued challenges a year after the landmark failure of shadow bank IL&FS increased scrutiny of the industry.Defaults at companies including Dewan Housing Finance Corp., Cox & Kings Ltd. and Altico Capital India Ltd. have occurred even as their long-term ratings indicated very low to moderate risk of non-payment.