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 with the objective of providing credit ratings and related services in Mauritius and other geographies in Africa. CRAF holds the license of a Credit Rating Agency from the Financial Services Commission and is the first credit rating agency in Mauritius. It is also recognized by Bank of Mauritius as External Credit Assessment Institution (ECAI) w.e.f. May 9, 2016. As on June 1, 2016, CRAF’s shareholders are Credit Analysis & Research Limited, India (CARE Ratings), MCB Equity Fund (MEF) and SBM (NFC) Holdings Limited (SNHL). African Development Bank (AfDB) is also expected to join as one of the shareholders. CARE Ratings, with more than 23 years of track record in providing high quality credit rating and related services, will provide technical support in the areas such as rating systems and procedures, methodologies, etc. to CRAF on an ongoing basis. The rating services of CRAF will include rating of debt instruments, bank loans & facilities and related obligations covering a wide range of sectors.

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