Credit Analysis and Research (CARE) Ratings has signed a MoU with Vishal Group and Emerging Nepal, to start a credit rating agency in Nepal and to be called Care Ratings (Nepal), subject to regulatory approvals in India and Nepal.
As per MoU, Care Ratings will hold 51% of the equity of Nepalese rupee 2 crore, while Vishal Group will own 19% and Emerging Nepal 10%. The balance 20% would be held by banks, insurance companies, FIs and corporate bodies in Nepal subject to a maximum of 9% per legal entity.
CARE is a second largest full service credit rating company in India, offering rating and grading services across a diverse range of instruments and industries including IPO grading, equity grading, and grading of various types of enterprises, including shipyards, maritime training institutes, construction companies and rating of real estate projects, among others.
