Fitch Launches National Ratings for India

Fitch Ratings today launched a new brand for its existing National ratings business in India: ‘India Ratings & Research Pvt Ltd’ (India Ratings). A wholly owned subsidiary of the Fitch Group, India Ratings is dedicated to the local Indian market and focused exclusively on National-scale, domestic credit ratings.

National ratings in India will no longer be assigned under the Fitch Ratings name, and all Indian National-scale ratings previously assigned by Fitch Ratings have been transferred to India Ratings.

International ratings of Indian banks, corporates and other entities will continue to be assigned under the Fitch Ratings brand and reflect Fitch’s global policies and procedures.

“We believe issuers, investors and other market participants will benefit from this move as it will sharpen the focus of the group’s analytical coverage, increase transparency, and allow us to keep abreast of domestic and international regulatory changes. We are very excited by opportunities in the Indian market and are committed to investing and growing our business there.” said Brett Hemsley, Head of Fitch’s Asia-Pacific operations.

India Ratings will continue to rate instruments such as bank loans, bonds, debentures, and structured transactions on the National-scale for the Indian market, using the same criteria and global best-practice standards, building on Fitch’s reputation in India for quality and integrity. Moreover, with its dedication and focus on the Indian market, India Ratings will be better placed to serve the needs of local investors, issuers and regulators.

Atul Joshi, Managing Director and CEO of Fitch Ratings India, will serve in the same role heading up India Ratings.

“Launching a purely India-focussed brand for our National ratings business is an exciting milestone for us. By clearly separating the branding of each business we can continue delivering global standard, International ratings under the Fitch brand, while India Ratings can focus on the needs of domestic ratings users and regulators.” said Mr. Joshi.

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