Ltd and the Kolkata-headquartered UCO Bank have signed
a memorandum of understanding for the rating agency to
assign ratings to SSI and SME borrowers of the bank.
SSI ratings will be carried out under the National Small
Industries Corporation-ICRA (NSIC-ICRA) performance
and credit rating scheme for SSIs. The SME ratings on
the other hand will be assigned under the ICRA-SME Rating
Scale. To assist potential and existing SSIs and SMEs
borrowers of UCO Bank in obtaining ratings, ICRA will
offer special terms to borrowers covered by the MoU.
UCO Bank, the ratings would serve as an objective and
scientific input in decision making, assist in risk
pricing; serve as an input for setting collateral requirements
for borrowers; and facilitate future CBO / CLO deals.
for UCO Bank''s borrowers, they would be able to obtain
the ICRA ratings at a relatively low cost. These ratings
may also enable borrowers to convey their standing to
their own customers, suppliers, collaborators and other
stakeholders. Additionally, the ICRA-rated entities
would be able to use the Company''s rating report for
internal benchmarking and self-improvement.