CARE Ratings’ subsidiary -- CARE Ratings (Africa) has received approval for incorporation of subsidiary in South Africa. The proposed company will carry on the business of Credit Rating Services. The proposed company would require approvals from local Statutory / Regulatory Authorities. The Incorporation of new company will be tentatively completed by December 31, 2023. The Board of Directors of the CARE Ratings (Africa) at their meeting held on September 26, 2023, has approved the same.
CARE Ratings has emerged as the leading agency for covering many rating segments including manufacturing, infrastructure, financial sector including banks, non-financial services among others.
