CRAs launch confidential reports

Chaudhary said these confidential reports help foreign investors to get in-depth information about various details of the prospective partners and their ability to pull through the projects.

He said this would also help the investors to have an understanding about the partners8217; efficiency in dealing with unexpected situations and sailing through rough weather.

Chaudhary said foreign investors are by and large happy with the quality of service and the precision levels. quot;We don8217;t expect our reports to be 100 per cent accurate, although thelevel of accuracy is always over 70 per cent,quot; he added.

At ICRA, an exclusive division information services group8217; has been engaged in preparing the reports.

Sources in the other leading credit rating agency, CRISIL said they are also offering such services as it has become a reliable first-hand information for foreign investors.

The service is seen as an expansion of business by rating agencies to newer territories as the current level of business in the fixed instrument market has touched a level of saturation, industry sources said.

ICRA had recently launched ratings of mutual funds, grading of equities and rating the claims paying ability of insurance companies to widen its services.