Japan Credit Rating Agency, Ltd. (JCR) and Credit Analysis and Research Ltd. (CARE Ratings), a leading credit rating agency (CRA) in India, signed a Memorandum of Understanding (MoU) in December 2015 to collaborate with each other as strategic business partners. Subsequently, in March 2016, the two rating agencies held a first joint seminar in Mumbai, India. In this seminar, their representatives explained the objective of this alliance by saying, "Through the cooperation between the two leading rating agencies in India and Japan, we would like to enhance our support for Indian and Japanese companies' fund raising in both countries with our ratings, thereby contributing to the consolidation of the two countries' economic and financial partnership." This report aims to explain the background and purpose of JCR's alliance with CARE Ratings, to make succinct introduction about CARE Ratings, and to share the outcome of the first joint seminar.
