Credit Analysis & Research Limited (Care Ratings), one of India’s premier credit rating agency, has signed an agreement with Ecuador rating agency SUMMA Ratings S A, for providing technical assistance related to credit rating.
Promoted in 1993 by IDBI and Canara Bank along with other Financial and Investment Institutions, Care Ratings has over fifteen years of experience in rating various types of entities including corporates, banks, insurance companies, infrastructure companies, state government entities, municipal entities and securitisation transactions.
Care's ratings are also recognised for the purpose of risk weight determination by RBI for Basel II implementation in India. According to Dr. Federico Bocca Ruiz, President & CEO of Summa Ratings, the company is committed to establish a trustful financial data source, which will provide investors the information needed to assure their investments through the risk analysis inside the local market. At the same time, Summa Ratings will give opportunity to develop such investments internationally, through alliances with other countries in Latin America and Asia.
D R Dogra, Managing Director & Chief Executive Officer of Care Ratings said, “Care will provide rating methodologies, operating procedures, training material and other relevant documentation to Summa Ratings necessary for creating a blueprint for the operating and ratings methodologies to Summa Ratings."
CARE Ratings is already providing cross border assistance to rating agencies based in Latin America and Asia.
