Credit Analysis & Research (“CARE”) is an Indian Credit Rating agency active in all market segments in India. CARE operates under the issuer-pays model.

CARE is registered as CRA in India with SEBI and also recognized for the SME sector.

CARE is recognized as an ECAI by the Hong Kong Monetary Authority and by Bank of Mauritius.

Business model: CARE operates under the issuer-pays model. CARE has a registered subsidiary in Maldives and teamed up with 4 partners to set up ARC Ratings in Europe.

Coverage: CARE covers Corporates, banks, insurances, municipalities, project finance and structured finance. For the period October 2013 to March 2014, CARE reports 3333 issue ratings.

Availability of ratings and reports at website: the list of outstanding ratings is available here: http://www.careratings.com/findratings.aspx. While brief rationales are usually freely available, rating reports are available only to subscribers.