ICRA in MoU with Vijaya Bank to rate SSI

New Delhi, Jun 19 (UNI) Credit rating agency ICRA Ltd has signed a Memorandum of Understanding (MoU) with Bangalore-based Vijaya Bank to rate its Small Scale Industries (SSIs) and Small and Medium Enterprises (SMEs) borrowers.

The SSI ratings will be carried out under the National Small Industries Vijaya-ICRA (NSIC-ICRA) Performance and Credit Rating Scheme for SSIs.

The SME ratings on the other hand will be assigned under the ICRA-SME Rating Scale.

To assist potential and existing SSI and SME borrowers of Vijaya Bank in obtaining ratings, the company is offering special terms to borrowers covered by the MoU.

For Vijaya Bank, the company ratings would serve as an objective and scientific input in decision making, assist in risk pricing, serve as an input for setting collateral requirements for borrowers and facilitate future CBO/CLO deals.

As for Vijaya Bank's borrowers, they would be able to obtain the company ratings at a relatively low cost.

The rating may also place the rated entity in a superior position in terms of faster loan processing and to obtain competitive credit terms from Vijaya Bank.

UNI