India’s rating major ICRA Limited (ICRA) is poised to offer credit rating services in Nepal following the grant of rating licence to its subsidiary ICRA Nepal Limited (ICRA Nepal) by the Securities Board of Nepal (SEBON). ICRA Nepal was incorporated in November 2011 as a subsidiary of ICRA, which has a 51 per cent equity holding in the company; the rest is held by Nepali institutional and individual shareholders.
The first credit rating agency (CRA) to be established in the Himalayan nation, ICRA Nepal will initially offer the services of Rating of Debt Instruments and Rating of Equity as envisaged under the country’s Credit Rating Regulations, 2011. Rating of issuers including banks, financial institutions, insurance companies and others will follow subsequently.
To read the full story click on the link: Press Release- ICRA Poised to offer rating services in Nepal Oct 3 2012