CARE Ratings Africa

CARE Ratings (Africa)

CIEL Limited assigned a rating of CARE MAU AA Stable/CARE MAU A1+

CARE Ratings (Africa)

CRAF has reconstituted its Rating Committee with full time members comprising officials from Credit Analysis and Research Limited (CARE), India and a panel of experienced professionals from Mauritius.

CARE Ratings (Africa)

First Credit Rating Agency in Mauritius to be Licensed by the Financial Services Commission

CARE Ratings (Africa)

Recognised by Bank of Mauritus from May 9, 2016 as External Credit Assessment Institution

CARE Ratings (Africa) Private Limited (CRAF) is incorporated in Mauritius and is the first credit rating agency to be licensed by the Financial Services Commission of Mauritius from May 7, 2015. It is also recognized by Bank of Mauritius as External Credit Assessment Institution (ECAI) from May 9, 2016. CRAF provides credit ratings and related services in Mauritius and has plans to venture into other geographies of Africa.
As on March 31, 2017, CRAF’s shareholders are CARE Ratings Limited (CARE Ratings), African Development Bank (AfDB) and MCB Equity Fund (MEF) & SBM (NFC) Holdings Limited (SNHL). The experienced mix of shareholders will enable the entity to have stronger brand recognition in the African continent. The management control will be with CARE Ratings which has majority shareholding. CRAF gets technical support in the areas such as rating systems and procedures, methodologies, etc. from CARE Ratings on an ongoing basis. The technical support shall ensure that CRAF has adequate resources to provide high quality credit opinions on an ongoing basis.

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