CARE undertakes rating exercise based on information provided by the company, in-house
database and data from other sources that CARE considers reliable.
+ Debt Ratings
+ Bank Loan
+ Issuer Ratings +
Corporate Governance Rating
+ Recovery Rating
Financial Sector Ratings
CARE’s ratings factor in the array of risks that have an effect on the Financial
Sector company viz business risks, legal risk, financial risks and management risks.
+ Credit Quality Rating
+ Capital Protection Oriented Scheme Ratings
+ Insurance + NBFCs
+ Housing Finance
Public Finance Ratings
CARE has comprehensive framework for the assessment of the credit quality of states
and local bodies.
+ Urban Local Bodies
CARE’s Project Finance Ratingis an independent opinion on the risks associated with
the project on a standalone basis and after considering the sponsor’s strength.
+ Project Finance
Infrastructure Sector Ratings
CARE’s Infrastructure Sector Rating encompasses the ratings assigned to debt programmes
of issuers in the power, roads, telecommunications and other such infrastructure-related
CARE's Valuation of PPMLD structures are opinions on the valuation of a given instrument based on CARE's analysis of the structure and the impact of underlying market variables affecting the structure on the given valuation date.
CARE’s SME Vertical
Value-added services for SMEs
+ Wide product offerings
+ Database of more than 6,000 SME entities
+ Quarterly publications for analytical inputs
+ Daily publication on news in SME sector
+ Operating from ten branches across India
+ MoU with leading banks for interest & rating fee concession
+ A team of qualified analyst
+ Click here to view Services in MSME Segment
Indian SMEs face growth constraints due to lack of adequate& timely finance and difficulty to establish credible relations with its stakeholders.
CARE’s SME vertical with its sound data base and analytical abilities offers the various products in this segment to bridge this gap.
+ NSIC-CARE Performance & Credit
Rating for MSEs + SME Ratings
+ SME Fundamental Grading
+ Bank Loan Ratings
+ Due Diligence Service
+ Channel Partner
EQUIGRADE is a flagship product under equity research and grading services offered
+ Read More
Real Estate Star Rating
CARE undertakes the Real Estate Star Rating exercise by implementing its plethora
of analytical expertise.
CARE EDU GRADE is a grading product for Educational Institutes.
CARE’s IPO grading is a service aimed at facilitating the assessment of equity issues
offered to public.
ITI Grading is a grading product for Industrial Training Institutes.
+ Read More
CARE's MFI grading is a one-time assessment of a Micro Finance Institution's (MFI)
operational and financial capability…
CARE’s Rating of REIT fund is an opinion on the REIT’s investment quality, based on the fundamental assessment of the REIT.…
CARE has been empanelled by MNRE for carrying out the Accreditation/Grading exercise
for Renewable Energy Service Companies (RESCOs)…
The ESCOs specializes in energy audits and implement energy efficiency practices
in a particular organization…
+ Shipyard Grading
+ Construction Grading
+ Maritime Grading
Rating Symbols & Definition
+ Bank Loan Ratings
+ Corporate Governance Rating
+ Construction Grading
+ Corporate Governance Rating
Rating/Statistics – Regulatory Disclosure
+ Credit Rating History and Default
+ Structured Finance Product
+ Outstanding Rating
+ Brief Rationale
+ Rating Committee
+ Complexity Level of Rated Instruments
+ FAQs on
+ Fee Structure
The Economics Department is known for its regular and almost real-time domestic
and global economy-related updates, opinions as well as analytical Studies and Surveys.
Analyses of developments in areas such as GDP, industrial growth, inflation, agricultural
growth, trade etc.
The reports in this section assess the impact of various policy measures by different
countries on India’s economy and so on.
Surveys that capture expectations of the key players in the industry; from various
fields like banking, automobile, entertainment, etc., on various economic developments.
In-depth analytical Studies to ascertain trends in various facets of the economy.
Debt Market Update
A free monthly bulletin about the happenings in the debt market.
+ Audited Financial Results
+ Unaudited Financial Results
+ Annual Reports
+ BSE Stock Watch + NSE Market Tracker
+ Registrar and Share Transfer
The rating process takes about two to three weeks, depending on the complexity of
the assignment and the flow of information from the client. Ratings are assigned
by the Rating Committee.
CARE undertakes a rating exercise based on information provided by the company,
in-house databases and data from other sources that CARE considers reliable. CARE
does not undertake unsolicited ratings.
Rating fees are computed separately on each instrument issued. Issuers are liable
to pay rating fees, regardless of whether they accept CARE's rating or not. Full
rating fee is to be paid up front.
Why CARE Ratings? Why is credit rating necessary at all? Why do rating agencies
use symbols like AAA, AA, rather than give marks or descriptive credit opinion?
+ View More
CARE is committed to the establishment of the highest standards of professional quality and integrity. One of the guiding factors in achieving this objective is the independence in rating decisions. In line with this, CARE has independent Rating Committee comprising reputed professionals. They are assisted in the evaluation by a team of professional analysts with varied experience in industry, banking and FIs.
CARE’s Rating Committee Members include*:
Y. H. Malegam, Chairman of Rating Committee is a former Managing Partner of S.B. Billimoria & Co, C.A. and former Co-chairman of Deloitte, Haskins & Sells C.A. He is a member – Central Board of Directors of Reserve Bank of India. He is also on the Board of First Source Solutions Limited, The Clearing Corporation of India, NSE, Siemens Limited, Western India Plywood Limited, Clariant Chemicals (India) Ltd and Member of the Committee of Indo German Chamber of Commerce.
Harun Rashid Khan commonly known as H. R. Khan was one of the Deputy Governors of Reserve Bank of India. He had joined Reserve Bank in 1978 after his Masters in Political Science from Utkal University, Bhubaneswar and Masters in Philosophy from the School of International Studies, Jawaharlal Nehru University, New Delhi. He was appointed as Deputy Governor in July 2011. Mr. Khan has also served as an Executive Director of NABARD and has notable contributions to Indian banking system especially in the field of rural credit, external investment and exchange control, financial inclusion and internal debt management.
V. Leeladhar, former Deputy Governor, RBI, and Chairman of Indian Banks Association (IBA). Former member of the Board of Directors for Institute of Banking and Finance, NABARD, National Housing Bank, New India Assurance Company Limited, General Insurance Corporation of India, Export Credit Guarantee Corporation of India Limited, Agriculture Finance Corporation Limited, Discount and Finance House of India Limited and SEBI. He is a member of the Board of Directors of Tata Global Beverages Limited.
V.K. Chopra, former whole time member of SEBI and chairman and managing director of Corporation Bank and Small Industries Development Bank of India. He was also the Executive Director of Oriental Bank of Commerce. He is a member of the board of directors of Jaiprakash Associates Ltd., Havells India Ltd., Future Retail Ltd., Rolta India Ltd., Bhartiya International Ltd., PNB MetLife India Insurance Co. Ltd., Responsive Industries Ltd., Religare Invesco Asset Management Co. Ltd., Reliance Capital Pension Fund Ltd., India Infoline Finance Co. Ltd etc.
Rajesh Mokashi is the Managing Director and Chief Executive Officer of CARE Ratings. He holds a Bachelor's degree in Mechanical Engineering from VJTI, Mumbai and a Master of Management Studies degree from University of Bombay. He is a qualified Chartered Financial Analyst and has also cleared Level III of the CFA Program conducted by the CFA Institute, USA.. He has more than 30 years of experience in finance, commerce and credit risk sectors. He has been associated with OTIS Elevators Company (India) Limited, DSP Financial Consultants Limited and Kotak Mahindra Finance Limited in the past. He is on Board of Directors with CARE Kalypto Risk Technologies and Advisory Services Pvt. Ltd.He is also Member-Empanellment Committee of NISM.
* Specific delegation of powers also provide for a committee of senior executives of CARE to decide some of the ratings/gradings.
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