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CARE Ratings reaffirms CARE AAA rating to India ICC for third consecutive year
Business

CARE Ratings reaffirms CARE AAA rating to India ICC for third consecutive year

Agency News

Mumbai, Oct 3 : CARE Ratings Limited has reaffirmed the rating of CARE AAA (Is) to the India International Clearing Corporation (IFSC) Limited (India ICC) for the third consecutive year.

This is the highest rating given by CARE Ratings Limited and indicates a stable outlook for the company, a release said The rating is based on the strong parentage of India ICC, experienced board of directors and management, sound corporate governance framework, robust collateral, risk management and margining framework, sound systems and technology infrastructure, adequate default fund etc.

India ICC providing clearing & settlement and risk management services. The company commenced its operations from January 16, 2017. It provides clearing & settlement, risk management and collateral management services to the India International Exchange (IFSC) Limited (India INX) at the IFSC, GIFT City. (UNI)