The Hindu Business Line : S&P gets nod to set up wholly owned subsidiary

Mumbai, Feb. 20 Standard & Poor’s has received approval from the Foreign Investment Promotion Board to set up a wholly owned subsidiary in India to carry out its business in South Asia. Standard & Poor’s South Asia will provide cross-border credit ratings, index services, investment research services and global data and information products to markets in South Asia, said a statement from the company.

The office in Mumbai will cater to customers in India, Pakistan, Sri Lanka, Bangladesh, Maldives, Mauritius and Seychelles.

“As these markets grow and their linkages to the international markets strengthen, we look forward to providing our global services and expertise to benefit the ongoing development of this region,” said Mr Tom Schiller, Executive Managing Director, Standard & Poor’s Asia Pacific.

While Crisil, a subsidiary of the company caters to the demands of the Indian markets, Standard & Poor’s South Asia will provide contemporary global insights, knowledge and experience through an extensive suite of products offering financial information and analysis for investors in the region.

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