In India major credit rating agencies are CRISIL, CARE, ICRA, SMERA and FITCH India. These credit rating agencies were formed to rate different organizations as well as individuals based on credit worthiness. The credit rating agencies take into consideration various factors like borrower’s ability to repay debt, credit risk and repayment history to understand creditworthiness. The functions of the credit rating agencies come under the purview of SEBI as per the credit rating agencies regulation 1999.ese agencies are assigned with the task of grading organisations or entities based on financial statements, level and type of debt, lending and borrowing history, and ability to repay the debt, and present debts of the entity before rating credit. This helps lenders make informed business/ investment decisions.
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SEE ALSO: Credit Score India
Listed below are some of the most reputed credit rating companies in India:
CRISIL was set up in the year 1987 and is one of the oldest credit rating agencies in India. It is one of the companies that has pioneered the concept of credit rating in India and works towards managing and controlling credit and market risks at a portfolio level, and analyses the management’s attitude towards risk and growth.
The ratings serve as an assessment that helps lenders make informed decisions. The company offers a number of services that includes investment committee, ratings committee, compensation committee, allotment committee and so on. Some of the debt instruments rated by CRISIL include loans, commercial papers, Non-convertible debentures (NCDs), bank hybrid capital instruments, asset-backed securities, mortgage-backed securities (MBS), bonds, certificates of deposit and so on.
Credit Analysis and Research Ltd. (CARE) was founded in 1993 and is the second largest rating agency in terms of rating income in the country. The company offers a wide range of rating services across a varied range of instruments and industries that includes corporate governance, debt ratings, financial sector, bank loan ratings, issuer ratings, recovery ratings, and infrastructure ratings. CARE is also engaged in rating IPOs, real estate, educational institutions, renewable energy services companies and assessment of shipyards and so on. The company has recently initiated valuation services and started offering valuation of equity, debt instruments and market linked debentures.
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ICRA stands for investment information and credit rating agency in India. The company was launched in the year 1991 and was set up in Gurugram and are operating businesses across India. ICRA is a public limited company and it offers services that include Corporate Governance Rating, Stakeholder Value and Governance Rating, Credit Risk Rating of Debt Mutual Funds, Rating of Claims Paying Ability of Insurance Companies, Project Finance Rating, and Line of Credit Rating. The company rates rupee-denominated debt instruments issued by manufacturing companies, commercial banks, NBFCs, financial institutions, public sector undertakings and municipalities.
SME rating agency is a rating and research service company in India that provides rating services to micro, small and medium enterprises or MSMEs. The ratings help the MSMEs avail loans at competitive interest rates. This company is a joint initiative of small industries development bank in India (SIBDI), Dun & Bradstreet Information Services India Private Limited (D&B) and leading public and private sector banks in India.
SEE ALSO: Free Credit Score
ONICRA Credit Rating Agency is a path breaking innovative organization that analyzes data and provides rating solutions for Individuals and Small and Medium Enterprises (SMEs). This rating enables the lender or service provider to make a judgment on the Individual or SME based on its Financials, Background and Productivity analysis.
ONICRA provides some unique services like helping clients choose the right employees or associates by providing a wide range of screening and assessment services, transform data into information, enables organizations to predict applicants and customer behaviour accurately. The employee background assessment services are provided to National and International companies in the IT, ITES, Hospitality, FMCG, Telecom, KPO, BPO, Automobile and Financial Sector.
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