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'''ICRA Limited''' ('''ICRA''') is an Indian independent and professional investment information and [[credit rating agency]].<ref name=icra-profile>{{cite web|url=http://www.icra.in/67654323.aspx?ck=pXKT5F8DI0y09YcCTjHl5ZoyuA4irn1XMUvRbEmAkRBQKECplVZmNCoJ3VCiLt2Xfnxc5w2uaDrqRY0uEKCoCw==|title=Profile|publisher=ICRA Limited|accessdate=2011-08-26}}</ref> It was established in 1991, and was originally named ''Investment Information and Credit Rating Agency of India Limited'' (IICRA India).
'''ICRA Limited''' ('''ICRA''') is an Indian independent and professional investment information and [[credit rating agency]].<ref name=icra-profile>{{cite web|url=http://www.icra.in/67654323.aspx?ck=pXKT5F8DI0y09YcCTjHl5ZoyuA4irn1XMUvRbEmAkRBQKECplVZmNCoJ3VCiLt2Xfnxc5w2uaDrqRY0uEKCoCw==|title=Profile|publisher=ICRA Limited|accessdate=2011-08-26}}</ref> The company was established in 1991, and was originally named ''Investment Information and Credit Rating Agency of India Limited'' (IICRA India).


It was a joint-venture between [[Moody's]] and various Indian commercial banks and financial services companies. The company changed its name to ''ICRA Limited'', and went public on 13 April 2007, with a listing on the [[Bombay Stock Exchange]] and the [[National Stock Exchange of India|National Stock Exchange]].<ref name=icra-faq>{{cite web|url=http://www.icra.in/Files/Content/Frequently%20asked%20questions.pdf|title=Frequently Asked Questions|publisher=ICRA Limited|accessdate=2011-08-26}}</ref> As of end December 2020, [[Moody's Corporation]] owns a 51.86% majority stake.<ref>{{Cite news|date=2020-12-31|title=Quarter 3 Ended December 31, 2020|work=ICRA Limited – Shareholding Pattern|url=https://www.icra.in/InvestorRelation/ShowShareHoildingPattern/?Id=39&Title=Share%20Holding%20Pattern&Report=Shareholding%20pattern%20(As%20on%20December%2031,%202020).pdf|url-status=live|access-date=2021-01-28}}</ref>
It was a joint-venture between [[Moody's]] and various Indian commercial banks and financial services companies. The company changed its name to ''ICRA Limited'', and went public on 13 April 2007, with a listing on the [[Bombay Stock Exchange]] and the [[National Stock Exchange of India|National Stock Exchange]].<ref name=icra-faq>{{cite web|url=http://www.icra.in/Files/Content/Frequently%20asked%20questions.pdf|title=Frequently Asked Questions|publisher=ICRA Limited|accessdate=2011-08-26}}</ref> As of end December 2020, [[Moody's Corporation]] owns a 51.86% majority stake.<ref>{{Cite news|date=2020-12-31|title=Quarter 3 Ended December 31, 2020|work=ICRA Limited – Shareholding Pattern|url=https://www.icra.in/InvestorRelation/ShowShareHoildingPattern/?Id=39&Title=Share%20Holding%20Pattern&Report=Shareholding%20pattern%20(As%20on%20December%2031,%202020).pdf|access-date=2021-01-28}}</ref>


==ICRA Credit Rating==
==ICRA Credit Rating==
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As of August 2020, ICRA Ltd. operates the following subsidiaries:
As of August 2020, ICRA Ltd. operates the following subsidiaries:


# ICRA Lanka Limited (ICRA Lanka) – credit rating agency licensed by the Securities and Exchange Commission of Sri Lanka (SEC) incorporated in December 2010 and was granted license by the SEC in May 2011.<ref>{{Cite web|title=ICRA – ICRA Lanka|url=https://www.icra.in/ICRAGroup/Icralanka|url-status=live|access-date=2020-08-18|website=icra.in}}</ref>
# ICRA Lanka Limited (ICRA Lanka) – credit rating agency licensed by the Securities and Exchange Commission of Sri Lanka (SEC) incorporated in December 2010 and was granted license by the SEC in May 2011.<ref>{{Cite web|title=ICRA – ICRA Lanka|url=https://www.icra.in/ICRAGroup/Icralanka|access-date=2020-08-18|website=icra.in}}</ref>
# ICRA Nepal Limited (ICRA Nepal) – first Credit Rating Agency in Nepal incorporated on 11 November 2011 and granted licence by the Securities Board of Nepal (SEBON) on 3 October 2012.<ref>{{Cite web|title=ICRA – ICRA Nepal|url=https://www.icra.in/ICRAGroup/Icranepal|url-status=live|access-date=2020-08-18|website=icra.in}}</ref>
# ICRA Nepal Limited (ICRA Nepal) – first Credit Rating Agency in Nepal incorporated on 11 November 2011 and granted licence by the Securities Board of Nepal (SEBON) on 3 October 2012.<ref>{{Cite web|title=ICRA – ICRA Nepal|url=https://www.icra.in/ICRAGroup/Icranepal|access-date=2020-08-18|website=icra.in}}</ref>
# ICRA Analytics Limited – analytics and digital platforms for risk management, market data, consulting and knowledge services.<ref>{{Cite web|title=ICRA – ICRA Analytics Ltd|url=https://www.icra.in/ICRAGroup/IcraAnalytics|url-status=live|access-date=2020-08-18|website=icra.in}}</ref> ICRA Analytics was formed from the merger of ICRA Online Limited (ICRON) and ICRA Management Consulting Services Limited (IMaCS) in October 2019.<ref>{{Cite web|title=ICRA announces merger of ICRA Online & ICRA Management Consulting Services|url=https://www.indiainfoline.com/article/news-top-story/icra-announces-merger-of-icra-online-icra-management-consulting-services-119101800342_1.html|access-date=2020-08-18|website=indiainfoline.com|language=en}}</ref>
# ICRA Analytics Limited – analytics and digital platforms for risk management, market data, consulting and knowledge services.<ref>{{Cite web|title=ICRA – ICRA Analytics Ltd|url=https://www.icra.in/ICRAGroup/IcraAnalytics|access-date=2020-08-18|website=icra.in}}</ref> ICRA Analytics was formed from the merger of ICRA Online Limited (ICRON) and ICRA Management Consulting Services Limited (IMaCS) in October 2019.<ref>{{Cite web|title=ICRA announces merger of ICRA Online & ICRA Management Consulting Services|url=https://www.indiainfoline.com/article/news-top-story/icra-announces-merger-of-icra-online-icra-management-consulting-services-119101800342_1.html|access-date=2020-08-18|website=indiainfoline.com|language=en}}</ref>


The following business formerly were part of the ICRA Group of Companies:
The following business formerly were part of the ICRA Group of Companies:


# PT ICRA Indonesia (ICRAIndo) – ICRA pulled out of the Indonesia market in June 2015.<ref>{{Cite news|title=Rating agency ICRA Ltd pulls out services from Indonesia|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/services/consultancy-/-audit/rating-agency-icra-ltd-pulls-out-services-from-indonesia/articleshow/47677046.cms?from=mdr|access-date=2020-08-18}}</ref>
# PT ICRA Indonesia (ICRAIndo) – ICRA pulled out of the Indonesia market in June 2015.<ref>{{Cite news|title=Rating agency ICRA Ltd pulls out services from Indonesia|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/services/consultancy-/-audit/rating-agency-icra-ltd-pulls-out-services-from-indonesia/articleshow/47677046.cms?from=mdr|access-date=2020-08-18}}</ref>
# ICRA Techno Analytics Limited (ICTEAS) – ICTEAS was acquired by Pune-based global consulting and IT services solutions integrations company Nihilent Technologies in August 2016 for INR 687.5 million (US$10 million)<ref>{{Cite web|title=Nihilent Acquires ICRA Controlled Leading IT and Analytics Services Provider|url=https://nihilent.com/nihilent-acquires-icra-controlled-leading-it-and-analytics-services-provider/|access-date=2020-08-18|website=Nihilent|language=en}}</ref><ref>{{Cite news|title=Nihilent acquires ICRA controlled leading IT and Analytics services provider|work=The Economic Times|url=https://economictimes.indiatimes.com/tech/ites/nihilent-acquires-icra-controlled-leading-it-and-analytics-services-provider/articleshow/53754537.cms|access-date=2020-08-18}}</ref> and renamed Nihilent Analytics.<ref>{{Cite web|date=2016-10-25|title=ICTEAS now renamed Nihilent Analytics Limited|url=https://www.thehansindia.com/posts/index/Business/2016-10-25/ICTEAS-now-renamed-Nihilent-Analytics-Limited/260916|url-status=live|access-date=2020-08-18|website=thehansindia.com|language=en}}</ref>
# ICRA Techno Analytics Limited (ICTEAS) – ICTEAS was acquired by Pune-based global consulting and IT services solutions integrations company Nihilent Technologies in August 2016 for INR 687.5 million (US$10 million)<ref>{{Cite web|title=Nihilent Acquires ICRA Controlled Leading IT and Analytics Services Provider|url=https://nihilent.com/nihilent-acquires-icra-controlled-leading-it-and-analytics-services-provider/|access-date=2020-08-18|website=Nihilent|language=en}}</ref><ref>{{Cite news|title=Nihilent acquires ICRA controlled leading IT and Analytics services provider|work=The Economic Times|url=https://economictimes.indiatimes.com/tech/ites/nihilent-acquires-icra-controlled-leading-it-and-analytics-services-provider/articleshow/53754537.cms|access-date=2020-08-18}}</ref> and renamed Nihilent Analytics.<ref>{{Cite web|date=2016-10-25|title=ICTEAS now renamed Nihilent Analytics Limited|url=https://www.thehansindia.com/posts/index/Business/2016-10-25/ICTEAS-now-renamed-Nihilent-Analytics-Limited/260916|access-date=2020-08-18|website=thehansindia.com|language=en}}</ref>


==References==
==References==

Latest revision as of 23:22, 27 September 2023

ICRA Limited
Company typePublic
BSE: 532835
NSE: ICRA
IndustrieFinancial services
Gegründet1991 (1991)
Hauptsitz
Gurgaon
,
Indien
Key people
Ramnath Krishnan, Managing Director & Group CEO
Arun Duggal, Non-Executive chairman and independent director.
ServicesCredit ratings
Financial consulting
Revenue₹2.28 billion (US$27 million)[1]
OwnerMoody's Corporation

ICRA Limited (ICRA) is an Indian independent and professional investment information and credit rating agency.[2] The company was established in 1991, and was originally named Investment Information and Credit Rating Agency of India Limited (IICRA India).

It was a joint-venture between Moody's and various Indian commercial banks and financial services companies. The company changed its name to ICRA Limited, and went public on 13 April 2007, with a listing on the Bombay Stock Exchange and the National Stock Exchange.[3] As of end December 2020, Moody's Corporation owns a 51.86% majority stake.[4]

ICRA Credit Rating

[edit]

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 for Indian 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 the probability 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.

Group Companies

[edit]

As of August 2020, ICRA Ltd. operates the following subsidiaries:

  1. ICRA Lanka Limited (ICRA Lanka) – credit rating agency licensed by the Securities and Exchange Commission of Sri Lanka (SEC) incorporated in December 2010 and was granted license by the SEC in May 2011.[5]
  2. ICRA Nepal Limited (ICRA Nepal) – first Credit Rating Agency in Nepal incorporated on 11 November 2011 and granted licence by the Securities Board of Nepal (SEBON) on 3 October 2012.[6]
  3. ICRA Analytics Limited – analytics and digital platforms for risk management, market data, consulting and knowledge services.[7] ICRA Analytics was formed from the merger of ICRA Online Limited (ICRON) and ICRA Management Consulting Services Limited (IMaCS) in October 2019.[8]

The following business formerly were part of the ICRA Group of Companies:

  1. PT ICRA Indonesia (ICRAIndo) – ICRA pulled out of the Indonesia market in June 2015.[9]
  2. ICRA Techno Analytics Limited (ICTEAS) – ICTEAS was acquired by Pune-based global consulting and IT services solutions integrations company Nihilent Technologies in August 2016 for INR 687.5 million (US$10 million)[10][11] and renamed Nihilent Analytics.[12]

References

[edit]
  1. ^ "Annual Report 2010-11" (PDF). ICRA Limited. Retrieved 26 August 2011.
  2. ^ "Profile". ICRA Limited. Retrieved 26 August 2011.
  3. ^ "Frequently Asked Questions" (PDF). ICRA Limited. Retrieved 26 August 2011.
  4. ^ "Quarter 3 Ended December 31, 2020" (PDF). ICRA Limited – Shareholding Pattern. 31 December 2020. Retrieved 28 January 2021.
  5. ^ "ICRA – ICRA Lanka". icra.in. Retrieved 18 August 2020.
  6. ^ "ICRA – ICRA Nepal". icra.in. Retrieved 18 August 2020.
  7. ^ "ICRA – ICRA Analytics Ltd". icra.in. Retrieved 18 August 2020.
  8. ^ "ICRA announces merger of ICRA Online & ICRA Management Consulting Services". indiainfoline.com. Retrieved 18 August 2020.
  9. ^ "Rating agency ICRA Ltd pulls out services from Indonesia". The Economic Times. Retrieved 18 August 2020.
  10. ^ "Nihilent Acquires ICRA Controlled Leading IT and Analytics Services Provider". Nihilent. Retrieved 18 August 2020.
  11. ^ "Nihilent acquires ICRA controlled leading IT and Analytics services provider". The Economic Times. Retrieved 18 August 2020.
  12. ^ "ICTEAS now renamed Nihilent Analytics Limited". thehansindia.com. 25 October 2016. Retrieved 18 August 2020.
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