Crisil to rate MFIs, ULBs to enable funding access
Financial rating agency Crisil along with ICICI Foundation and IFMR Trust has entered into an agreement to develop viable commercial enterprises that focus on rating small sized institutions for enabling them to attract more investments.
By PTI |
MUMBAI : Financial rating agency Crisil along with ICICI Foundation and IFMR Trust has entered into an agreement to develop viable commercial enterprises that focus on rating small sized institutions for enabling them to attract more investments.
Under the agreement, Crisil would be rating micro-finance institutions (MFIs), urban local bodies (ULBs) and vocational training institutes in order to enable them to attract more investments, Crisil Managing Director & CEO Roopa Kudva said here.
"Our rating will enable MFIs and ULBs to access funding from mainstream investors and lenders. Vocational training institutes can use these ratings to build credibility and improve placements for their students," Kudva said.
Crisil will develop a criteria and rating standards to rate fund-starved, small-sized institutions across the country in association with IFMR Trust and ICICI Foundation, Kudva said.
Crisil would also publish and disseminate rating criteria for such entities.
"The agreement will help to develop new models that will significantly expand the set of market-based opportunities available to low income households," ICICI Foundation's President Nachiket Mor said.
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