India’s rating major ICRA Limited (ICRA) is poised to offer credit rating services in Indonesia following the grant of rating licence to ICRAIndo (a Subsidiary of ICRA) by the Republic’s Capital Market and Financial Institutions Supervisory Agency (Bapepam-LK). The Indonesian venture was incorporated early this year. ICRAIndo will be offering its services in the Indonesian market putting into use parent ICRA’s accumulated experience in the areas of credit rating, grading and investment information.
Speaking on the occasion, Mr. P.K. Choudhury, President Commissioner, ICRAIndo, and Vice-Chairman, ICRA, said, “Indonesia, for us, is a promising prospect in view of the evolving nature of its financial and money markets in recent times. We take a positive view of the fact that the country was able to ride out the recent global liquidity crisis without suffering any major slowdown in its growth rate. Given this demonstrated resilience and the positive outlook on the emerging business environment, the prospects for ICRAIndo appear eminently favourable.” Source: ICRA Press Release