CRISIL Ratings is India's leading rating agency. We pioneered the concept of credit rating in India in 1987. With a tradition of independence, analytical rigour and innovation, we have a leadership position. We have rated over 46,000 entities, by far the largest number in India.
We are a full-service rating agency. We rate the entire range of debt instruments: bank loans, certificates of deposit, commercial paper, nonconvertible debentures, bank hybrid capital instruments, asset-backed securities, mortgagebacked securities, perpetual bonds, and partial guarantees.
CRISIL sets the standards in every aspect of the credit rating business.
We have instituted several innovations in India including rating municipal bonds, partially guaranteed instruments and microfinance institutions.
We pioneered a globally unique and affordable rating service for Small and Medium Enterprises (SMEs).This has significantly expanded the market for ratings and is improving SMEs' access to affordable finance.
We have an active outreach programme with issuers, investors and regulators to maintain a high level of transparency regarding our rating criteria and to disseminate our analytical insights and knowledge.
CRISIL Ratings serves lenders, investors, issuers, market intermediaries and regulators by improving information availability and providing benchmarks. We rate most of India's largest companies and several of the smallest.
We have rated 15,000 large and mid-corporates and financial institutions, and 31,000 small and medium enterprises across 190 industry sectors. Our ratings cover manufacturing companies, banks, nonbanking finance companies, public sector undertakings, financial institutions, state governments, urban local bodies, mutual funds.
CRISIL's ratings assist issuers and borrowers in enhancing their access to funding, widening the range of funding alternatives, and optimising the cost of funds.
Investors and lenders use our ratings to supplement their internal evaluation process and to benchmark credit quality across investment options.
For the markets at large, our ratings act as a market benchmark for pricing and trading of debt instruments.
We help regulators in measurement and management of credit risks at a systemic level. CRISIL's ratings are used in the computation of capital adequacy in the banking sector. Our ratings are also used to determine the eligible investment pool for insurance companies, pension funds, and provident funds.
CRISIL Ratings is trusted by issuers, investors, and intermediaries, and has played a pivotal role in shaping India's credit market by regularly introducing new products and services.
| First corporate sector entity rating |
1988 |
| First financial sector entity rating |
1989 |
| First ABS rating with a separate symbol |
1991 |
| First bank rating |
1993 |
| First public finance rating |
1993 |
| First credit quality rating on a mutual fund's debt scheme |
1996 |
| First financial strength rating |
1998 |
| First municipal bond rating (first in Asia) |
1998 |
| First bond fund rating |
1998 |
| First MBS rating |
2000 |
| First Ratings Round-Up |
2000 |
| First rating based on partial guarantee (a global first) |
2001 |
| First hospital grading |
2002 |
| First governance and value creation rating |
2004 |
| First default study |
2005 |
| First fund governance rating |
2005 |
| First capital protected fund rating |
2006 |
| First bank loan rating |
2007 |
| Assignment of complexity levels, a pro bono service, for classifying capital market instruments into three categories based on the ease of understanding of the risk elements inherent in these instruments |
2008 |
| Sectoral CreditAlerts |
2009 |
| First multi asset MFI securitisation |
2010 |
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