CARE Ratings Nepal starts operations «

CARE Ratings Nepal starts operations

CARE Ratings Nepal has commenced its operation in Nepal amid a formal ceremony to launch the new credit rating agency inaugurated by Securities Board of Nepal (SEBON) Chairperson Dr Rewat Bahadur Karki.
CARE Ratings Nepal Ltd (CARE Ratings Nepal) – a joint venture company with CARE Ratings Ltd (formerly known as Credit Analysis and Research Ltd), India (CARE Ratings India) – has been issued a Credit Rating License from Securities Board of Nepal on November 16, 2017, to operate credit rating business in Nepal. In Nepal, Care Ratings Nepal will provide ratings for various instruments such as bonds, debentures, Commercial Paper, bank deposits, structured finance and other debt instruments besides grading to Initial Public Offer, Follow on Public Offer, Rights Issue and ratings for the bank facilities, said the company that will also cover rating of issuers including insurance companies, Asset Management Companies and SMEs.
Addressing the launching ceremony, SEBON Chairperson Dr Karki described that the board has recently granted the licence to the new rating agency on back of market potential and more transparency in the financial markets. As the financial market will grow, there will also be a necessity for ratings of the corporate borrowers for ensuring the financial stability of the country.