ICRA (formerly Investment Information and Credit Rating Agency of India) is an independent and professional investment information and credit rating agency. It is aligned with globally recognized credit rating agency Moody’s, enhancing its credibility and igniting a spirit of innovation and excellence, propelling it towards limitless opportunities for growth and advancement. It is a leading credit rating agency in India, distinguished by its proven track record in credit assessment and research excellence. It empowers investors, lenders, and businesses with reliable insights to make informed financial decisions. The company contributes to market efficiency and enhances confidence across the financial ecosystem.

ICRA embarked upon Environmental, Social, and Governance (ESG) ratings in 2024 after receiving registration as a Category-I ESG Rating Provider (ERP) from the Securities and Exchange Board of India (SEBI). ESG ratings have emerged as critical indicators in current investment landscape, driven by increasing global focus on sustainable and responsible business practices. These ratings provide crucial insights into an organisation’s resilience against environmental risks, social responsibility, and governance standards - factors that significantly impact long-term business sustainability and stakeholder value creation.

ICRA was set up in 1991 by leading financial/investment institutions, commercial banks and financial services companies as an Independent and professional investment Information and Credit Rating Agency. Currently, ICRA and its subsidiaries together form the ICRA Group of Companies (Group ICRA). The international Credit Rating Agency Moody’s Investors Service is ICRA’s largest shareholder. Moody's provides certain technical services to ICRA pursuant to a Technical Services Agreement. ICRA is a Public Limited Company, with its shares listed on the Bombay Stock Exchange and the National Stock Exchange.

Business area of the company 

The company is primarily engaged in the business of rating and research. The company provides information and guidance to institutional and individual investors/creditors; enhance the ability of borrowers/issuers to access the money market and the capital market for tapping a larger volume of resources from a wider range of the investing public; assist the regulators in promoting transparency in the financial markets; provide intermediaries with a tool to improve efficiency in the funds raising process.

Services 

• Rating & Ancillary Services
• ESG Rating
• Research & Analytics

Milestones

• 1991: Launch of credit rating services
• 1999: Moody’s acquires initial stake at ICRA
• 2004: Knowledge services set up
• 2007: ICRA get listed
• 2014: Moody’s acquires a majority stake
• 2019: Consolidation of non-rating businesses under ICRA Analytics
• 2023: Acquisition of D2K Technologies
• 2024: ICRA forays into ESG Rating