ICRA Ltd has renewed its technical cooperation agreement with the Credit Rating Agency of Bangladesh (CRAB) for another three years. The agreement involves assisting CRAB in designing rating methodologies, besides advisory and information services products.
ICRA has provided technical support to CRAB, which has emerged as a credible rating agency in Bangladesh within the relatively brief period since its start of operations in calendar 2004. The agency has been providing credit rating services to banks, insurance companies, non-banking financial institutions, and corporate bodies, among others.
Besides, it has been rating infrastructure projects, securitised receivables of micro-credits, and clients of financial institutions.
In the past, ICRA has helped setting up of credit rating agencies in Kuwait and Bulgaria.