Business Standard

Rating agency Care to expand overseas ops through JV

Related News

Credit rating agency, , is looking to through (JVs) with rating agencies outside India.

Recently, CARE entered into non-binding agreements with four companies in Malaysia, Brazil, South Africa and Portugal, for promoting an international rating agency, said , general manager, CARE Ratings, at a press conference held to announce the initial public offering () of the company here on Tuesday.

The company will provide international scale ratings to assist local issuers in mobilising resources from international financial markets, according to the red herring prospectus of CARE. The company has received a no-objection letter from the Securities and Exchange Board of India to enter into a JV to establish an international credit rating agency. “After cementing our position in the Indian domestic rating market, we are equipped to go outside because our parents are not interest rate crediting agencies,” said Agarwal.

Care plans to offer 71,99,700 equity shares of a face value of Rs 10 each in the IPO, in a price band of Rs 700-750 an equity share.

Read more on:   
|
|
|
|
|

Read More

2013: Another year of steady rise

The domestic equity market in 2013 is likely to repeat the rise in 2012 and move up about 20 per cent. While reversal of the interest rate cycle ...

Quick Links

 

Market News

Retail investors have failed to sail in choppy waters

Majority of investors, however, have lacked strength average or even hold on to their investments when Sensex had declined to sub-10,000 levels ...

L&T Finance's asset stress rises

But improving profits of smaller subsidiaries are likely to sustain

Deepak Fertilisers: Boost in case of MCF acquisition

Deepak Fertilisers, earlier in July last year, had brought 24.45% stake in MCF

Edelweiss announces buyback at Rs 45 a share

The total amount on the buyback will not exceed Rs 135 cr

NSEL payments: HC orders creation of three-member monitoring panel

The three-member panel will negotiate with borrowers, FTIL and EOW on liquidation of borrowers' assets

Back to Top