ICRA enters into pact with Bulgarian firm

Thursday, 22 July 2004, 07:00 Hrs
Printer Print Email Email
NEW DELHI: ICRA India, one of India's leading independent credit rating companies, said Wednesday it had entered into a pact with Bulgarian Credit Rating Agency (BCRA) for providing technical assistance.

ICRA, which has become the first credit rating company to enter the European market, will provide technical assistance to BCRA in designing rating methodologies, besides imparting training to analysts, said a statement.

"The entry into Bulgaria underscores ICRA's initiatives towards lending its proven expertise to rating entities beyond India," said P.K. Choudhury, managing director of ICRA.

"The agreement with BCRA is important not only because it marks our entry into Europe but also because it highlights the growing international acceptance of the expertise that our country has built up in the area of credit rating."

Sonya Sofronova, executive director of BCRA, said: "We propose to use ICRA's expertise in establishing a firm base for the system of credit rating in our country.

"Through credit rating, we want to assist Bulgarian companies find new opportunities of financing and market expansion."




Source: IANS
SPOTLIGHT
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..