ICRA to withdraw rating services from Indonesian market

Due to challenges in current environment

ICRA announced that after strategic and performance review of PT ICRA Indonesia (ICRAIndo), subsidiary at Indonesia, ICRA recognised that the path to scalability presents significant challenges in the current environment and therefore has decided to withdraw the rating services business activity in Indonesia, subject to requisite approval of relevant regulatory authorities.

ICRAIndo launched its operations in Indonesia in September 2010 following the grant of licence by Regulator in Indoneasia.

Powered by Capital Market - Live News