GTF signs MoU with SMERA for credit rating services

Mumbai, June 19 (UNI) Global Trade Finance Ltd (GTF), one of the leading factoring company, and SME Rating Agency of India Ltd (SMERA) here today jointly signed a memorandum of understanding (MoU) for credit rating services to SMEs.

As per as the MoU, GTF in association with SMERA will expand its SME portfolio further in an environment characterised by rising interest rates and information asymmetry. And, with the help of third party credit rating assessement, GTF will appropriately price loans to SMEs.

''Third-party credit rating will help us weigh the risks that a prospective SME client is subject to. The rating will accordingly help us price credit at a premium,'' said Arvind Sonmale, managing director and CEO of GTF, here today.

Speaking to mediapersons, SMERA CEO Rajesh Dubey said '' The MoU is aimed at bringing factoring and fortfaiting services to SMEs on best terms and in the shortest possible time.'' The agreement is a win-win proposition for both as both the parties can extend their services to an estimated around 12 million SME units dotting throughout the country, he added.

UNI