Fitch local operations rebranded under new its subsidiary 'India Ratings'

MUMBAI: Local ratings business of Fitch Ratings will be now under its new subsidiary 'India Ratings & Research Pvt Ltd' (India Ratings). A wholly owned subsidiary of the Fitch Group, India Ratings will exclusively focus on domestic credit ratings.

" We have separated the operations to abide by local regulations. However the ratings criteria methodology and processes will continue to remain as that of Fitch." said Atul Joshi, MD of the new entity India Ratings.

Besides, a Fitch Tag would also require it to comply with American and European regulations he added.

"India is the third Market in Asia to be hived off in a separate subsidiary after Korea and China." said Brett Hemsley, Head of Fitch's Asia-Pacific operations." We have local subsidiaries in markets where we have significant business operations." he added.