CRISIL completes acquiring Greenwich Associates

CRISIL announced completion of the acquisition of 100% stake in Greenwich Associates LLC.

Consequently, Greenwich has become a wholly-owned subsidiary of the company, CRISIL said in a statement before trading hours today, 26 February 2020.

CRISIL on 19 December 2019, announced acquisition of US-based Greenwich Associates and its six subsidiaries for about $40 million as it looks to become a leading player in the global benchmarking analytics market.

Greenwich is a well-established and leading provider of proprietary benchmarking data, analytics, and qualitative, insights to financial services firms worldwide. Based in Stamford, Connecticut, it serves over 300 clients across top investment banks, corporate banks, commercial banks, asset managers and key players in the market infrastructure space globally.

CRISIL's consolidated net profit fell 16.2% to Rs 95.33 crore on a 0.6% decline in net sales to Rs 464.29 crore in Q4 December 2019 over Q4 December 2018.

CRISIL is India's foremost provider of ratings, data, research, analytics and solutions.

Shares of the credit rating agency declined 3.27% to Rs 1,588.25.

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