Institutional Services

ICRA A Moody's Investor Services

Grading

The Grading Services offered by ICRA employ pioneering concepts and methodologies, and include Grading of: Microfinance Institution (MFIs); Construction Entities; Real Estate Developers and Projects; and Maritime Training Institutes. These apart, of late, ICRA has been offering the services of Grading of the Renewable Energy Service Companies (RESCOs) and the System Integrators(SI); Grading of Management Education Institutes; Grading of Engineering Colleges/Universities; Grading of Fundamental Strength and Recovery Prospects; Assessment of the fundamental and financial strength of Real Estate Entities (REEs) & Real Estate Projects (REPs); and ICRA Corporate Responsibility and Sustainable-Business Grading.

Microfinance Institutions

An ICRA MFI Grading is a symbolic indicator of ICRA's current opinion on the relative capability of the Microfinance Institution (MFI) concerned to manage its microfinance activities in a sustainable manner. An ICRA MFI Grading is not a comment on any specific debt servicing capability of the MFI.

The focus of ICRA's MFI Grading exercise is on evaluating the candidate institution's business and financial risks. ICRA forms an opinion on an MFI's business risk by analysing, among other factors, its operating environment, governance structure, management and systems, scalability (in relation to business plans), and asset quality. Financial risk is assessed through an evaluation of factors including the MFI's liquidity position, funding policies, capitalisation profile and profitability.