"The rating methodology for non-banking financial services companies and rating of manufacturing companies are based on different model and factors." Explain.

Answer 3(b) Rating Methodologies Rating of Manufacturing Companies The factors generally considered for rating of manufacturing companies are as under: Industry Risk Company's industry and market position Operating efficiencies Accounting Quality Financial flexibility Earnings protection Financial leverage. Cash flow adequacy Management evaluation Rating of Financial Services Companies The rating methodology for non-banking financial services companies is based on CAMELS model encompassing following six parameters Capital Adequacy Asset Quality Management Earnings Liquidity Systems and Control