Credit rating agency, Credit Analysis and Research (CARE) is planning to set up an international subsidiary in association with rating agencies and financial institutions from emerging market economies (EMEs). This initiative has to be seen in the context of the eagerness of the global agencies take rating action against EMEs vis-a-vis advanced economies.
The EMEs include countries such as Brazil, Russia, India, China, South Africa, Turkey, Mexico, Indonesia, Philippines, and Thailand.
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