Moody's is the majority owner of ICRA, one of India's leading credit rating agencies. ICRA rates debt issued by companies, banks, financial institutions, public sector bodies and municipalities.
Ownership and structure
Moody's controls ICRA Limited, a listed Indian credit rating agency, with a 51.86 percent stake as of December 2024. ICRA Limited is listed on the NSE and BSE under the symbol ICRA.
What India does for Moody's
India is a credit ratings and analytics market for Moody's through its majority owned subsidiary ICRA.
Moody's's India business
ICRA was set up in 1991. Moody's held a 51.86 per cent stake in ICRA as of December 2024.
ICRA is headquartered in Gurugram with its registered office in New Delhi. ICRA has subsidiaries including ICRA Analytics, ICRA Lanka and ICRA Nepal.
Key moves in India
- 1991: ICRA was set up as a joint venture between Moody's and Indian banks and financial institutions.
- 2007: The company was renamed ICRA Limited and listed on the BSE and NSE.
- 2014: Moody's raised its holding in ICRA from 28.51 percent to 50.06 percent through an open offer.
- 2019: ICRA Online and ICRA Management Consulting Services merged to form ICRA Analytics.
- 2024: Moody's held 51.86 percent of ICRA as of December.
Where it operates
Moody's runs its India business from Gurugram. It also has a presence in New Delhi.
At a glance
- Home country: United States
- Global headquarters: New York
- Sector: Banking & Financial Services
- Business: Ratings and data
- Role of India: Sales market, Financial services franchise
- India entity: ICRA Limited
- Listed in India: ICRA Limited (ICRA)
- India head office: Gurugram
- India offices: Gurugram, New Delhi
- India headcount: Not available
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