India’s first classification system:On Thursday, October 3, CareEdge Ratings launched Global Ratings with the publication of sovereign ratings for 40 countries. With this, CareEdge becomes India’s first credit rating agency to enter the global scale ratings space, including sovereign rating through its IFSC Gift City subsidiary, CareEdge Global IFSC Ltd.
Ashwini Vaishnaw Minister of Railways, Information and Broadcasting, Electronics and IT, presided over the presentation event. KV Kamath, Corporate Leader, Ashish Kumar Chauhan, MD & CEO JAN and EACPM member Sanjeev Sanyal will also join the event along with participating in a fireside chat.
Sovereign credit rating agencies evaluate and assign credit ratings to countries (sovereign states) based on their ability to repay debt. The agencies analyze economic, political and financial factors to determine a country’s creditworthiness, helping investors evaluate the risk involved in lending money or investing in that country.
Each agency uses a slightly different rating scale to provide an independent assessment of the country’s financial health, which often influences interest rates and investor confidence in a country. Higher credit ratings (such as AAA or AA) suggest lower risk, while lower ratings (such as BB or lower) indicate higher risk, including the potential for default.
Until now, the space has been completely dominated by Western rating agencies like Fitch Ratings, sovereign credit rating agencies evaluate and assign credit ratings to countries (sovereign states) based on their ability to repay debt. oody’s, S&P Global Ratings, Standard & Poor’s and others.
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