ICRA Limited

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ICRA Limited
Traded as BSE532835
Industry Financial services
Founded 1991 (1991)
Headquarters Gurgaon, India
Key people
Naresh Takkar, CEO
Services Credit ratings
Financial consulting
Revenue 2.28 billion (US$35 million)[1]
Website www.icra.in

ICRA Limited (ICRA) is an Indian independent and professional investment information and credit rating agency.[2] It was established in 1991, and was originally named Investment Information and Credit Rating Agency of India Limited (IICRA India). It is one of the largest Indian rating company in term of customer base.[citation needed]

It was a joint-venture between Moody's and various Indian commercial banks and financial services companies. The company changed its name to ICRA Limited, and went public on 13 April 2007, with a listing on the Bombay Stock Exchange and the National Stock Exchange.[3]

ICRA Credit Rating[edit]

ICRA’s credit ratings are symbolic representations of its current opinion on the relative credit risks associated with the rated debt obligations/issues. These ratings are assigned on an Indian (that is, national or local) credit rating scale for Rupee (local currency) denominated debt obligations. ICRA ratings may be understood as relative rankings of credit risk within India. ICRA ratings are not designed to enable any rating comparison among instruments across countries; rather these address the relative credit risks within India.

ICRA’s ratings (other than Structured Finance Ratings) in the investment grade convey the relative likelihood of default, that is, the possibility of the debt obligation not being met as promised. All other ratings, including Structured Finance Ratings, reflect both the probability of default and the severity of loss on default, that is, the expected loss against the rated debt obligation.

Credit ratings apart, ICRA also assigns Corporate Governance Ratings, besides Performance Ratings, Gradings and Rankings to mutual funds, construction companies and hospitals.

Group Companies[edit]

There are six subsidiary of ICRA Ltd. as, 1. PT. ICRA Indonesia (ICRAIndo)www.icraindonesia.com, 2. ICRA Lanka Limited (ICRALanka)www.icralanka.com, 3. ICRA Nepal Limited (ICRA NEPAL)www.icranepal.com, 4. ICRA Techno Analytics Limited (ICTEAS),www.icteas.com, 5. ICRA Online Limited (ICRON)www.icraonline.com, 6.IMaCs.www.imacs.in.


  1. ^ "Annual Report 2010-11" (PDF). ICRA Limited. Retrieved 2011-08-26. 
  2. ^ "Profile". ICRA Limited. Retrieved 2011-08-26. 
  3. ^ "Frequently Asked Questions" (PDF). ICRA Limited. Retrieved 2011-08-26.