ICRA signs MoU with SBS to assign ratings

New Delhi, Jan 17: Credit rating agency ICRA Ltd today said it has signed a memorandum of understanding (MoU) with State Bank of Saurashtra (SBS) to assign ratings to the Bank's loans and its other exposures.

''ICRA's ratings for the standardised approach would be carried out under its 'Line of Credit' rating service and would enable SBS to assign the new risk weights applicable to its borrowers under Basel-II,'' agency said in a statement.

The risk weights will be linked to the various rating categories and would be as per RBI's above guideline. The MoU will deliver a number of benefits to the SBS as well its clients.

For SBS, ICRA's Line of Credit ratings would assist in implementing RBI's New Capital Adequacy Framework under Basel-II, it added.

UNI