CRA evaluates an individual’s or a company’s creditworthiness. These agencies consider a debtor’s income and credit lines to analyse the debtor’s ability to repay the debt.
All the credit rating agencies in India are regulated by Securities and Exchanges Board of India (SEBI). The credit rating agencies are monitored and reviewed by SEBI.
Credit rating agencies analyse an organisation, individual, or entity and assign ratings to it. These agencies have the authority to rate companies, state governments, etc.
Credit Rating Information Services of India Limited (CRISIL), one of the oldest credit rating agencies, was set up in 1987. The agency stepped on to infrastructure rating in 2016. CRISIL has been operational in countries such as USA, UK, Poland, Hong Kong, China, and Argentina in addition to India.
Credit Analysis and Research Limited (CARE) is a credit rating agency that is operational from April 1993. The agency provides credit rating that helps corporates to raise funds for their investment requirements. Investors can make decisions based on credit risk and risk-return expectations.
The Investment Information and Credit Rating Agency (ICRA), a joint venture of Moody’s and Indian Financial and Banking Service Organisation was established in 1991. The organisation assigning corporate governance rating, performance rating, mutual funds ranking.
India Ratings and Research, a wholly-owned subsidiary of Fitch Group, provides accurate credit opinions on the country’s credit market. The firm covers corporate issuers, financial institutions, urban local bodies and structured finance companies.
Brickwork Ratings (BWR) is accredited by RBI and empanelled by NSIC, NCD, MSME ratings and grading services. Brickwork is also authorised to grade companies seeking credit facilities from IREDA, Renewable Energy Service Providing Companies and System Integrators. Canara Bank was the leading promoter for Brickwork.
This SEBI-registered, RBI-accredited credit rating agency was founded by finance professionals, former bankers, and administrative services personnel. It evaluates entities such as banks, non-banking financial companies, large corporates, and small and medium scale units (SMUs).
Acuite Rating and Research was incorporated in 2005 as an initiative of Ministry of Finance (GOI) and Reserve Bank of India (RBI), to facilitate credit rating of bank borrowers. We call ourselves Rating Agency which later rechristened to SMERA Ratings Limited as our products & services portfolio expanded organically over the period and included Bond Ratings, SME Ratings and various grading services.
