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2012-03-29

SMERA Assigns 15,000th SME Credit Rating

SME Rating Agency of India Ltd (SMERA) has assigned its 15,000th SME Credit Rating to M/s Magnum Pigments & Polymers Pvt Ltd.

SME Rating Agency of India Ltd (SMERA) has assigned its 15,000th SME Credit Rating to M/s Magnum Pigments & Polymers Pvt Ltd. The Credit Rating assigned to M/s Magnum Pigments & Polymers Pvt Ltd is “MSME 1”, which is the highest safety Credit Rating assigned to an MSME.

On this occasion, Parag Patki, CEO, SMERA, expressed his happiness on crossing a landmark of 15,000th Credit Rating by SMERA, under the non-Basel category. He lauded M/s Magnum Pigments & Polymers Pvt  Ltd.’s endeavour in embracing the rigor of credit rating for over five years in a row and utilising credit ratings as a mirror for units’ consistent improvement. He appreciated the awardee units’ desire to excel consistently in performance, even during recession.

SMERA started as a Credit Rating Agency for the Micro, Small and Medium Enterprise sec­tor in India, however its registration with Securities and Exchange Board of India (SEBI) as a sixth Credit Rating Agency, has paved way for SMERA to rate the capital market instruments, such as: IPO, Bonds, Security receipts, amongst others to large corporate sector. 

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