‘CARE to rate educational inst soon’

CARE will start rating engineering and management schools and thereafter expand further.

Starting with engineering and management schools,rating agency CARE today said it will start grading educational institutions.

“We have got board approval for introducing the concept of rating educational institutions. We will start with rating the engineering and management schools initially and then expand to other arenas,” Credit Analysis and Research Ltd (CARE) Managing Director D R Dogra said.

He said the rating agency is currently finalising the methodology to be adopted for grading these institutions and it will be completed soon.

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CARE is also planning to come up with grading for scrips of listed entities. The methodology for this has been finalised.

“We will rate the equities on the basis of fundamentals of the company and valuation potential,” Dogra added.

A ‘Fundamental Grade 5’ would mean a good grade for the stock,while a grade of 1 would indicate weak fundamental.

Similarly a ‘Valuation Grade 5’ would mean there is enough scope for valuation of that company to go up in the future,he explained.

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Dogra said that CARE currently is sitting on a cash pile of Rs 200 crore.

“We are looking at acquiring companies in the industry research and Knowledge Process Outsourcing (KPO) segment as the cash availability is adequate,” he said.

Earlier this month,private equity firms Aditya Birla PE,Milestone Religare and Bajaj Group’s financial services unit Bajaj Finserv have together picked up about 13 per cent stake in CARE.

The three firms bought the stake from ING Vysya,Kotak Mahindra Bank and another shareholder,valuing the rating agency at Rs 1,500 crore.

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