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| Company type | Public |
|---|---|
| BSE: 532835 NSE: ICRA | |
| Industry | Financial services |
| Founded | 1991 (1991) |
| Headquarters | , India |
Key people | Ramnath Krishnan, Managing Director & Group CEO Arun Duggal, Non-Executive chairman and independent director. |
| Services | Credit ratings Financial consulting |
| Revenue | ₹2.28 billion (US$27 million)[1] |
| Owner | Moody's Corporation |
ICRA Limited (ICRA) is an Indian independent and professional investment information andcredit rating agency.[2] The company was established in 1991, and was originally namedInvestment Information and Credit Rating Agency of India Limited (IICRA India).
It was a joint-venture betweenMoody's and various Indian commercial banks and financial services companies. The company changed its name toICRA Limited, and went public on 13 April 2007, with a listing on theBombay Stock Exchange and theNational Stock Exchange.[3] As of end December 2024,Moody's Corporation owns a 51.86% majority stake.[4]
ICRA's credit ratings are symbolic representations of its current opinion on the relative credit risks associated with the rated debt obligations/issues. These ratings are assigned on an Indian (that is, national or local) credit rating scale forIndian Rupee denominated debt obligations. ICRA ratings may be understood as relative rankings of credit risk within India. ICRA ratings are not designed to enable any rating comparison among instruments across countries; rather, these address the relative credit risks within India.
ICRA's ratings (other than Structured Finance Ratings) in the investment grade convey the relative likelihood of default, i.e., the possibility of the debt obligation not being met as promised. All other ratings, including Structured Finance Ratings, reflect both theprobability of default and the severity of loss on default, i.e., the expected loss against the rated debt obligation.
Credit ratings aside, ICRA also assigns Corporate Governance Ratings, besides Performance Ratings, Gradings and Rankings to mutual funds, construction companies and hospitals.
As of August 2020, ICRA Ltd. operates the following subsidiaries:
The following business formerly were part of the ICRA Group of Companies:
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