The Reserve Bank of India (RBI) has approved Brickwork Ratings as an eligible Credit Rating Agency (CRA) for bank loans/facilities.
In effect, the RBI has accorded Brickwork, the ECAI (External Credit Assessment Institution) status under Basel norms, Brickwork said in a statement.
Brickwork Ratings has been registered with the Securities and Exchange Board of India as a CRA since 2008. Brickwork Ratings has also been recognised by the National Small Industries Corporation under the Ministry of MSME, Government of India to rate the MSMEs. With this approval from the RBI, Brickwork is a full service rating agency in the country.
D Ravishankar, Founder Director, Brickwork Ratings, said: "Since inception, Brickwork has rated over 180 issues amounting to over Rs 125,000 crore. Brickwork has rated NCD/bond issues, Issuer Rating, Security Receipts, Structured Obligation transactions, IPO Gradings, Financial Strength of Insurance Companies, Corporate Governance Ratings etc."
Vivek Kulkarni, Founder Managing Director, said, RBI approval has enhanced the scope of operations for Brickwork.
Brickwork is headquartered in Bangalore and has offices in Mumbai, New Delhi, Chennai, Hyderabad and Kolkata.
Besides, Brickwork representatives are in Chandigarh, Coimbatore, Guwahati, Pune, Rajkot and Vadodara, it said.
