Financial Daily from THE HINDU group of publications
Tuesday, Jan 25, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jan 25, 2005 |
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Corporate
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Alliances & Joint Ventures ICRA signs pact with Turkish rating agency Our Bureau
New Delhi , Jan. 24 CREDIT rating agency ICRA Ltd today signed a memorandum of understanding (MoU) with Turkey-based First Turkish Credit Rating Agency (FTCRA). ICRA would provide training and technical assistance to FTCRA, a one-month-old company.ICRA would also assist FTCRA prepare its credit rating manual. According to ICRA's Managing Director, Mr P.K. Choudhury: "The entry into Turkey once again underscores ICRA's ability to think beyond borders. The MoU with FTCRA is important not only because it gives ICRA an offshore presence, but also because it highlights the growing international acceptance of the expertise that our country has built up in the area of credit rating within the relatively short span of 14 years or so." Initially, the MoU is for a period of six months and depending on the progress made during the first six months, a full-fledged agreement would be signed after six months.
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