CRISIL has launched India's first rating service service
for small and medium enterprise (SME). At a press briefing
in Mumbai, held on August 31, 2005, Ravi Mohan, managing
director, CRISIL announced 'SME 1' ratings, indicating
the highest credit quality among SMEs, for Educomp Solutions
Ltd and Su-Kam Power Systems Ltd.
has launched its rating services for the SME sector,
to meet the market's need for a credit risk benchmark
for India's growing SME sector. These ratings will provide
lenders with an independent benchmark to evaluate and
differentiate the credit quality of their SME borrowers
based on these ratings.
Thyagarajan, director, SME ratings, CRISIL, said, "The
SME sector needs tailor-made products and services.
Market players dealing with the SME sector are aware
of the risks of the sector; what they are looking for
is an indication of relative credit quality among SMEs.
CRISIL's launch of SME rating services will fulfil this
Kudva, executive director and chief rating officer,
CRISIL, said, "There is an increasing policy thrust
on SMEs, with the central government announcing an SME
policy and proposing to enact the SME Bill. CRISIL will
bring to bear its experience in rating diverse entities,
and its in-depth understanding of risk issues, business,
and markets, on this product."
SME services offered by CRISIL include 'NSIC-CRISIL
performance and credit ratings for small-scale industries',
and customised rating solutions like dealer and supplier
evaluation. CRISIL has already tied up with banks to
rate their SSI clients
under the NSIC-CRISIL scheme; ratings for microfinance
agencies and bank ratings in addition to its independent
ratings of the corporate sector, which it pioneered
in the country.