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2010-01-12

More and more SMEs turn to credit rating agencies

After the implementation of Base II norms, according to which SMEs must have a credit rating done by an independent agency. As a result, the credit rating agencies have seen a healthy rise in volumes

After the implementation of Base II norms, according to which SMEs must have a credit rating done by an independent agency. As a result, the credit rating agencies have seen a healthy rise in volumes and are expected to do brisk business in the fourth quarter.

 

Credit rating agency Care Rating expects the revenue to rise by 30-35 per cent this financial year as more and more small and medium businesses (SMBSs) are opting for ratings.

 

According to DR Dogra, MD and CEO of the agency, this financial year the company expects to rate about 1,000 firms, out of which about 500 will be in the SME space. The company had rated about 769 companies, with nearly 200 being SMEs last fiscal.

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