Rating Methodology, Scales and Definitions


CARE Ratings (Africa) Pvt. Ltd. is committed to the establishment of the highest standards of professional quality and integrity. In line with this, CRAF has reconstituted its Rating Committee with full time members comprising officials from Credit Analysis and Research Limited (CARE), India and CRAF. The full time members comprising officials from CARE and CRAF are:

Mr. Rajesh Mokashi-Managing Director & CEO of CARE Ratings, India and Director in CRAF
Mr.T.N.Arun Kumar-Executive Director of CARE Ratings, India
Ms. Revati Kasture-Chief General Manager of CARE Ratings, India
Mr. Madan Sabnavis-Chief Economist of CARE Ratings, India
Mr. Vijay Agarwal-General Manager and Financial Sector Head of CARE Ratings, India
Mr. Saurav Chatterjee-CEO & Director of CRAF

Together all these members have more than 20 years of rich analytical expertise in assigning/reviewing and monitoring ratings on the back of rating coverage of more than 13000 clients and about INR. 6 lakh crore of volume of debt rated by CARE Ratings, India. Further, with a view to ensure valuable inputs about the economy, industry and corporate environment in Mauritius, CRAF shall also have a panel of experts from Mauritius to assist the Rating Committee. The panel of local professionals who could be invited on case to case basis are:

Madam Aruna Collendavelloo-Executive Director of Rogers and Company Ltd.
Mr. Rajeev Lalsingh-Head of Risk & Compliance MCB Capital Markets.
Mr. Vipin Mahabirsingh-Managing Director in Central Depository & Settlement Co Ltd.

In case any of the panel of experts from Mauritius is associated with the rated entity, leading to conflict of interest, the member will not participate in the rating process and in the Rating Committee meeting.

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