CareEdge Ratings Expands Global Footprint

MUMBAI: CareEdge Ratings is making significant strides on the global stage with its subsidiary, CareEdge Global IFSC, based in Gift City. The agency is actively engaging with global debt issuers and institutional investors, including sovereign wealth funds, to position itself as a key player in sovereign and cross-border corporate ratings.

Domestic Market Growth

The agency has reported a 66% increase in the value of debt raised in the bond market from Q1 last year to Q1 this year, according to Revati Kasture, executive director of CareEdge and CEO of CareEdge Global. This surge is attributed to the cut in interest rates, which has spurred bond issuance.

Innovative Methodologies

CareEdge is challenging conventional rating methodologies with its innovative approach. "We identified areas for improvement in global rating agencies' methodologies," Kasture explained. The agency's models have proven effective, such as predicting Greece's vulnerabilities three years before its default.

Sovereign Ratings Success

With 39 sovereign ratings under its belt, CareEdge's assessments differ from large global agencies in 50% of cases. Notably, its rating of France as AA- with a negative outlook was later mirrored by all three major rating agencies.