Collaboration & Membership


Technical Collaboration with ICRA
Member of ACRAA


Technical Collaboration with ICRA :

CRAB has a “technical collaboration agreement” with ICRA Limited of India, one of the leading credit rating agencies of the region. This collaboration has provided CRAB with facility for the development of rating methodologies, for performing rating assignments and training our professionals. ICRA-CRAB collaboration facilitates sharing of resources and information base and professional expertise between the two organizations, much to the advantage of CRAB.


About ICRA
ICRA Limited (an Associate of Moody’s Investors Service) was incorporated in 1991 as an independent and professional company. ICRA is a leading provider of investment information and credit rating services in India. ICRA’s major shareholders include Moody’s Investors Service and leading Indian financial institutions and banks. With the growth and globalization of the Indian capital markets leading to an exponential surge in demand for professional credit risk analysis, ICRA has been proactive in widening its service offerings, executing assignments including credit ratings, equity gradings, specialised performance gradings and mandated studies spanning diverse industrial sectors. In addition to being a leading credit rating agency with expertise in virtually every sector of the Indian economy, ICRA has broad-based its services for the corporate and financial sectors, both in India and overseas. (Read More About ICRA)



Member of ACRAA :

CRAB is an active member of the Association of Credit Rating Agencies in Asia (ACRAA). ACRAA is a federation of domestic rating agencies of the Asian continent – including those of Japan, Philippines, Malaysia, Indonesia, Korea, India, Pakistan, China, Taiwan and Bangladesh, established with support and cooperation of the Asian Development Bank (ADB). As a member CRAB participates in all the activities of this association. (Read More About ACRAA)

About ACRAA:
ACRAA was organized on 14 September 2001 at the Asian Development Bank headquarters, Metro Manila, by 15 Asian credit rating agencies from 11 countries. As of 2005, membership has increased to 20 members. Please see ACRAA Directory of Members.

ACRAA’s Objectives (as stated in the Articles of Incorporation):
The Association of Credit Rating Agencies in Asia is organized for the following purposes:

To develop and maintain cooperative efforts that promote interaction and exchange of ideas, experiences, information, knowledge and skills among credit rating agencies in Asia and that would enhance their capabilities and their role of providing reliable market information.

To undertake activities aimed at promoting the adoption of best practices and common standards that ensure high quality and comparability of credit ratings throughout the region, following the highest norms of ethics and professional conduct.

To undertake activities aimed at promoting the development of Asia’s bond markets and cross-border investment throughout the region.