The Securities and Exchange Board of India (Sebi) is planning to issue fresh guidelines for credit rating agencies, amid instances of lack of disclosures and conflict of interest between such agencies and issuers. The regulator might also prescribe rules for fund houses to avoid concentration risks in a single debt security. The move is aimed at avoiding a repeat of recent crises such as the Amtek Auto default, which hit investors of JP Morgan Mutual Fund. “What we have started looking at is why it is that in certain cases, in which papers were being rated investment grade, the rating was suddenly suspended? Maybe, there was genuine reason. I am not questioning it but that has to be explained to investors and the public at large. We felt that was not being done. We had a meeting with rating agencies and explained our concern to them,” Sebi Chairman U K Sinha said on the sidelines of an annual capital market summit organised by the Federation of Indian Chambers of Commerce and Indus