A credit rating agency is a company which rates the debtors on the basis of their ability to pay back the debt in timely manner. They rate large scale borrowers, whether companies or governments.
There are three big credit rating agencies in the world which are Standard and Poor’s (S&P), Moody’s and Fitch Ratings.
Credit Rating and Information Services of India Limited (CRISIL)
- It is India’s first credit rating agency which was incorporated and promoted by the erstwhile ICICI Ltd, along with UTI and other financial institutions in 1987.
- After 1 year, i.e. in 1988 it commenced its operations.
- It has its head office in Mumbai.
- It is India’s foremost provider of ratings, data and research, analytics and solutions, with a strong track record of growth and innovation.
- It delivers independent opinions and efficient solutions.
- CRISIL’s businesses operate from 8 countries including USA, Argentina, Poland, UK, India, China, Hong Kong and Singapore.
- CRISIL’s majority shareholder is Standard & Poor’s.
- It also works with governments and policy-makers in India and other emerging markets in the infrastructure domain.
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