ICRA Limited, the parent Company was set up in 1991 by leading financial/investment institutions, commercial banks and financial services companies as an independent and professional Investment Information and Credit Rating Agency. Today, ICRA and its subsidiaries together form the ICRA Group of Companies (Group ICRA). ICRA is a Public Limited Company, with its shares listed on the Bombay Stock Exchange and the National Stock Exchange.

The international Credit Rating Agency Moody’s Investors Service is ICRA’s largest shareholder. The participation of Moody’s is supported by a Technical Services Agreement, which entails Moody’s providing certain high-value technical services to ICRA. Specifically, the agreement is aimed at benefiting ICRA’s in-house research capabilities, and providing it with access to Moody’s global research base. The agreement also envisages Moody’s conducting regular training and business seminars for ICRA analysts on various subjects to help them better understand and manage concepts and issues relating to the development of the capital markets. Besides this formal training programme, the agreement provides for Moody’s advising ICRA on Rating-products strategy and the Ratings business in general.

ICRA Lanka’s information products, Ratings, and solutions reflect independent, professional and impartial opinions, which assist businesses enhance the quality of their decisions and help issuers access a broader investor base and even lesser known companies approach the money and capital markets. We strongly believe that the quality of analytical output is a reflection organisation’s research capabilities. Towards this end, we will have the required in-house capabilities, to maintain the highest standards of quality and credibility.

The focus and commitment of ICRA Lanka in the coming years will continue to be, on developing innovative concepts and products in a dynamic market environment, generating and promoting wider investor awareness and interest, enhancing efficiency and transparency in the financial market, and providing a healthier environment for market participants and regulators.

Drawing on the strength and experience of the parent, ICRA Lanka provides a range of rating services. With the current demand, Issuer Rating Service is a key product. ICRA Lanka’s Issuer ratings would provide an opinion on the general creditworthiness of the rated entities in relation to their senior unsecured obligations. ICRA’s Issuer Ratings are not specific to any particular debt instrument issued by the rated entities. In an increasingly globalised environment, these issuer ratings could be of immense help to organizations in negotiating with prospective lenders, contractors, consultants, counter-parties, collaborators, vendors, creditors and other stakeholders who need to form an opinion about the overall credit quality of the company. ICRA Lanka also rates rupee denominated debt instruments issued by commercial banks, non-banking finance companies, financial institutions, manufacturing and service companies, among others. ICRA also rates structured obligations and sector-specific debt obligations. The other services offered include Corporate Governance Rating, Stakeholder Value and Governance Rating, Credit Risk Rating of Debt Mutual Funds, Rating of Claims Paying Ability of Insurance Companies, Project Finance Rating, and Line of Credit Rating.

The Grading Services offered by ICRA Lanka employ pioneering concepts and methodologies, and include Grading of: Initial Public Offers (IPOs), Microfinance Institutions (MFIs), Construction Entities, Real Estate Developers and Projects and Healthcare Entities. In IPO Grading, an ICRA-assigned IPO Grade represents a relative assessment of the “fundamentals” of the issue graded in relation to the universe of other listed equity securities on the Colombo Stock Exchange. In MFI Grading, the focus of ICRA’s grading exercise is on evaluating the candidate institution’s business and financial risks. The Grading of Construction Entities seeks to provide an independent opinion on the quality of performance of the entities graded. Similarly, the Grading of Real Estate Developers and Projects seeks to make property buyers aware of the risks associated with real estate projects, and with the developers’ ability to deliver in accordance with the terms agreed. ICRA’s Healthcare Gradings present an independent opinion on the quality of care provided by healthcare entities.

Mr. Pranab Kumar Choudhury is the Vice-Chairman of ICRA Limited and CEO of the ICRA Group. He is also the Chairman of ICRA Online Limited and a Director on the Boards of ICRA Management Consulting Services Limited, ICRA Techno Analytics Limited and ICRA Sapphire Inc. (USA). Besides, he is a Director on the Boards of Peerless Securities Limited, The Peerless General Finance & Investment Company Limited and Indian Railway Finance Corporation Limited. Mr. Choudhury holds a Bachelor's and a Master's Degree in Commerce from the University of Calcutta. He is a Chartered Accountant from The Institute of Chartered Accountants of India and also holds a Post-Graduate Diploma in Advanced Financial Management from the Maastricht School of Management, The Netherlands. Besides, Mr. Choudhury is a C.A.I.B. from The Institute of Bankers, London, and a C.A.I.I.B. from the Indian Institute of Bankers. With a professional experience of over 37 years now, Mr. Choudhury has, prior to joining ICRA, worked in the manufacturing industry, commercial banking, development banking, and merchant banking sectors.

Mr. Barnabas is the Managing director and Chief Executive Officer of ICRA Lanka. He has a MBA from Colombo University and a first class B.Sc degree from Madras University. He had been with the NDB Bank group for 20 years, holding many senior positions.  He has also been instrumental/involved in setting up and managing a number of financial institutions for the NDB group. The last position held was as was Chief executive Officer/Director of NDB Housing Bank Ltd, a specialized housing Finance subsidiary of the NDB group. Other senior positions held are CEO/Director of NDB Stock Brokers, CEO/Director of Capital Development and Investment Company, a specialized Investment holding company, and Director/Investment Committee member of Ayjona Fund Management company, a venture capital fund Management Company. He was also involved in setting up a Leasing company in the Maldives, at the initiative of the International Finance Corporation (IFC) and NDB Group. He functioned as the first CEO/Director of that Company, Maldives Finance and Leasing Company Limited. After leaving the NDB Group, he has been the CEO of Overseas Realty (Ceylon) PLC, the largest real Estate company in the country.