New Delhi: Credit rating agency ICRA on Monday said it will set up a branch in Nepal along with some local institutions there.
"ICRA Limited (ICRA) has been granted a letter of intent (LoI) by the Securities Board of Nepal (SEBON) to establish a Credit Rating Agency (CRA) in the Himalayan nation," the company said in a statement.
ICRA proposes to set up a CRA in Nepal in a joint venture with certain reputable Nepal-based institutions and professionals, it added.
ICRA (formerly Investment Information and Credit Rating Agency of India Limited) 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.
First Published: Monday, August 22, 2011, 21:29