Process
We believe in a simple and straightforward process to ensure your satisfaction and a smooth experience with us.
Steps involved in the
Credit Rating Process at ICRA LLC
Initial Document Collection And Screening
Invoice And Payment Collection
ICRA Rating Initiation
Rating Committee Approval
Sharing The Rating Report And Certificate
A – Receiving a Formal Request From the Client
The credit rating process begins when the issuer (who wants to obtain a credit rating) submits a formal request for credit rating to ICRA LLC along with necessary documents such as a Trade License/Certificate of Incorporation, audited financials of the company, etc. Upon acceptance of the request by ICRA, an agreement is made between the issuer company and ICRA LLC, and the customer will pay the required fee to ICRA.
B – Assigning to Credit Risk Team
In the second step, ICRA assigns the tasks of credit rating to the Credit Risk team, who is responsible for rating projects/assignments and possesses expertise in the relevant business area.
C – Obtaining Financial Information
The Credit Risk team will collect all necessary client-related financial statements and other relevant information from the given documents.
D – Research & Financial Statement Analysis
In this step, the Credit Risk team researches the Client’s operations, verifies KYC documents, reviews the credit repayment history as per the provided documents, and analyzes financial statements and cash flow projections. The credit risk team may communicate with the Client to better understand the business model and future prospects and may request additional documents and information whenever necessary.
E – Discussion Meeting
When all the analysis has been done, the Credit Risk team will discuss the findings with the Board of Governors/Rating Committee, comprising the senior management of ICRA LLC. All the issues affecting the company are identified. An opinion on the rating is also formed, and the results of the team’s analysis are finally presented to the Board of Governors/Rating Committee.
F – Rating Committee Meeting
This final meeting serves as the ultimate authority for assigning ratings, marking the conclusion of the Credit Risk team’s work. The final authority verifies facts, and findings, and considers political, social, and other factors. Following a thorough review and consideration of all results, facts, and additional information, ICRA LLC assigns the official ICRA Credit Rating.
G – Communication of Decision
The assigned rating grade is communicated to the Client along with reasons or rationale supporting the credit rating decision. Credit ratings that are not accepted are either rejected or reviewed in light of additional facts provided by the Client.