Case Studies

ABOUT PROJECT

ICRA Limited (formerly Investment Information and Credit Rating Agency of India Limited) was set up in 1991 by leading financial/investment institutions, commercial banks and financial services companies as an independent and professional investment Information and Credit Rating Agency.

Today, ICRA and its subsidiaries together form the ICRA Group of Companies (Group ICRA). ICRA is a Public Limited Company, with its shares listed on the Bombay Stock Exchange and the National Stock Exchange.

Alliance with Moody’s Investors Service

The international Credit Rating Agency Moody’s Investors Service is ICRA’s largest shareholder. The participation of Moody’s is supported by a Technical Services Agreement, which entails Moody’s providing certain high-value technical services to ICRA. Specifically, the agreement is aimed at benefiting ICRA’s in-house research capabilities, and providing it with access to Moody’s global research base. The agreement also envisages Moody’s conducting regular training and business seminars for ICRA analysts on various subjects to help them better understand and manage concepts and issues relating to the development of the capital markets in India. Besides this formal training programme, the agreement provides for Moody’s advising ICRA on Rating-products strategy, and the Ratings business in general.

The ICRA Factor

Our services are designed to

Provide information and guidance to institutional and individual investors/creditors;

Enhance the ability of borrowers/issuers to access the money market and the capital market for tapping a larger volume of resources from a wider range of the investing public;

Assist the regulators in promoting transparency in the financial markets;

Provide intermediaries with a tool to improve efficiency in the funds raising process.