CARE Ratings has signed a Memorandum of Understanding (MoU) with Russian Rating Agency – Analytical Credit Rating Agency (ACRA).
Under this Memorandum CARE Ratings and ACRA will assist each other towards developing a multilateral credit rating framework and undertake joint analytical research work. Further the agreement looks at enhancing technological cooperation as well as building joint databases which will be mutually beneficial for the two rating agencies. Also the two agencies will assist each other to be recognized by local investors and regulatory institutions in their geographies. Speaking on the occasion Mr. Rajesh Mokashi, MD & CEO, CARE Ratings, said, ‘ We are delighted to partner with ACRA, a leading CRA in Russia, to work together in developing methodologies jointly which will help to bring about enhancements in the approach to credit rating. The strategic cooperation involved with this MoU will help provide comprehensive support to Russian and Indian investors. As both out countries are part of the BRICS group, we do see a lot of potential for playing an important role in the BRICS region.
