Credit Rating Process
We believe in a simple and straightforward process to ensure client satisfaction and a smooth rating experience.
How We Rate Credit
Steps involved in the Credit Rating Process at ICRA
Initial Document Collection and Screening
Invoice and Payment Collection
ICRA Rating Initiation
Rating Committee Approval
Sharing the Rating Report and Certificate
Detailed Rating Process
A – Receiving a Formal Request From the Client
The credit rating process begins when the issuer submits a formal request for credit rating to ICRA LLC along with necessary documents such as a Trade Licence/Certificate of Incorporation, audited financials and other relevant information. Upon acceptance of the request, an agreement is made between the issuer company and ICRA LLC, and the customer pays the required fee.
B – Assigning to Credit Risk Team
ICRA assigns the rating assignment to the Credit Risk team, which is responsible for rating projects and has expertise in the relevant business area.
C – Obtaining Financial Information
The Credit Risk team collects the client’s financial statements and other relevant information from the documents provided.
D – Research and Financial Statement Analysis
The team researches the client’s operations, verifies KYC documents, reviews credit repayment history, analyses financial statements and cash-flow projections, and may communicate with the client for further business and document clarifications.
E – Discussion Meeting
After the analysis is completed, the Credit Risk team discusses the findings with the Board of Governors/Rating Committee, identifies issues affecting the company, forms an opinion on the rating and presents the analysis.
F – Rating Committee Meeting
The Rating Committee acts as the final authority for assigning ratings. It verifies facts and findings, considers political, social and other factors, and assigns the official ICRA Credit Rating after review.
G – Communication of Decision
The assigned rating grade is communicated to the client along with reasons or rationale supporting the rating decision. Ratings not accepted may be rejected or reviewed based on additional facts provided by the client.
Rating Grades and Their Meaning
ICRA adopts the following rating scales while assigning final ratings to commercial entities.
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