JAIIB · IEIFS · Chapter 40

Credit Rating Agencies and Their Functions

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Q

1 — Credit Rating Agency / Year Established / Notes?

A

Credit Rating Agency: CRISIL Ratings Limited; Year Established: 1987; Notes: First Indian CRA; majority owned by S&P Global.

Q

2 — Credit Rating Agency / Year Established / Notes?

A

Credit Rating Agency: ICRA Limited (Investment Information and Credit Rating Agency of India); Year Established: 1991; Notes: Associate of Moody's Investors Service.

Q

3 — Credit Rating Agency / Year Established / Notes?

A

Credit Rating Agency: CARE Ratings Limited (Credit Analysis and Research); Year Established: 1993; Notes: Promoted by IDBI and other FIs.

Q

4 — Credit Rating Agency / Year Established / Notes?

A

Credit Rating Agency: India Ratings and Research Pvt. Ltd.; Year Established: 1995; Notes: A 100% owned subsidiary of Fitch Group.

Q

5 — Credit Rating Agency / Year Established / Notes?

A

Credit Rating Agency: Infomerics Valuation and Rating Pvt. Ltd.; Year Established: 1986 (registered with SEBI in 2015); Notes: RBI-accredited External Credit Assessment Institution (ECAI).

Q

6 — Credit Rating Agency / Year Established / Notes?

A

Credit Rating Agency: Brickwork Ratings India Pvt. Ltd.; Year Established: 2007; Notes: SEBI ordered Brickwork to wind down fresh ratings in Oct 2022; existing ratings are being run off — still listed as registered but not accepting new mandates.

Q

7 — Credit Rating Agency / Year Established / Notes?

A

Credit Rating Agency: Acuité Ratings & Research Limited (formerly SMERA); Year Established: 2005; Notes: Focus on MSME and bank-loan ratings.

Q

What are S&P, Moody's and Fitch?

A

are the three (3) accredited international ECAIs for rating foreign-currency claims.

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40d Ieifs Credit Rating Agencies Their Functions 164 KB
Previous chapter Lease Finance and Hire Purchase Next chapter Insurance Products

More chapters in Module D - Financial Products and Services

2. Money Markets and Capital Markets 13. Insurance Products 29. Overview of Financial Markets 30. Money Markets and Capital Markets 31. Fixed Income Markets - Debt and Bond Markets 32. Capital Markets and Stock Exchanges 34. Interconnection of Various Markets & Market Dynamics 39. Lease Finance and Hire Purchase 42. Insurance Products 43. Pension Funds (including APY & NPS)

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