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RBI Approves Brickwork as an Eligible CRA

, April 16, 2012, 0 Comments

The RBI has approved Brickwork Ratings as an eligible Credit Rating Agency for bank loans/facilities. In effect, the RBI has accorded Brickwork, the ECAI (External Credit Assessment Institution) status under Basel norms.

RBI issued a circular dated April 13, 2012, addressed to all scheduled commercial banks, that modifies Para 6 of RBI Master Circular DBOD.No.BP.BC.11/21.06.001/2010-11dated July 1, 2011, which specifies Prudential Guidelines on Capital Adequacy and Market Discipline- New Capital Adequacy Framework (NCAF). Brickwork Ratings is now included as an eligible CRA under these guidelines.

Since inception, Brickwork has rated over 180 issues amounting to over Rs 125,000 crores. Brickwork has rated NCD/bond issues, Issuer Rating, Security Receipts, Structured Obligation transactions, IPO Gradings, Financial Strength of Insurance Companies, Corporate Governance Ratings etc. With RBI approval, Brickwork Ratings will now focus on bank loans too.

RBI approval has enhanced the scope of operations for Brickwork. However, irrespective of scale of operations, Brickwork Ratings is always committed to quality, financial literacy and serve investors to make informed investment decisions.

Brickwork is headquartered in Bangalore and has offices in Mumbai, New Delhi, Chennai, Hyderabad and Kolkata. Besides, Brickwork representatives are in Chandigarh, Coimbatore, Guwahati, Pune, Rajkot and Vadodara.

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