Care Ratings inks pact with Japan Credit Rating Agency

Credit rating agency Care today said it has signed a Memorandum of Understanding (MoU) with Japan Credit Rating Agency to collaborate as strategic business partners.
As the economic relations between India and Japan deepen, the two agencies agreed to cooperate with each other to maximise their support for the Indian and Japanese companies' funding and other business activities, Care Ratings said in a statement.
"This is a significant foray made by Care and may be viewed as an extension of our global strategy. Care continuously strives to expand its global presence and develop its knowledge in credit rating across geographies," Care Ratings Managing Director and Chief Executive Officer D R Dogra said.

"Given the strong links between India and Japan, the collaboration with JCR will help businesses in both the countries in their fund raising endeavours," he added.
Japan Credit Rating Agency President and CEO Shokichi Takagi said: "India, having enormous potential with a population of more than 1.2 billion and being one of the fastest growing economies in the world, has been an increasingly attractive destination for Japanese companies' foreign direct investment."
"We would also like to support Indian companies to tap into the Japanese capital market, which should also benefit Japanese investors by offering more diversified investment opportunities.
"By the two leading rating agencies in these markets joining forces, we would like to strengthen the economic and financial partnership between Japan and India," he added.