CARE Ratings Ltd. ( Formerly known as Credit Analysis and Research Limited) commenced operations in April 1993 and over nearly two decades, it has established itself as the second-largest credit rating agency in India in terms of rating income CARE Ratings provides ratings in the financial sector, infrastructure sector, corporates, public finance and MSME spaces. Under its umbrella of grading services, CARE Ratings carries out grading of IPOs, assesses financial strength of shipyards, grades various courses of Educational institutions and provides grading services to Energy service companies (ESCO), Renewable energy service companies (RESCO), Real estate projects, Maritime training institutes. CARE Ratings also provides equity grading for listed entities. CARE Ratings has recently begun its Valuation Services and offers valuation of equity, debt instruments and market linked debentures (also with embedded complex options). To enhance its scope of business CARE Ratings has been nurturing global opportunities and made forays in different forms: The Company has launched a new international credit rating agency ïARC RatingsÍ with 4 partners from Brazil, Portugal, Malaysia and South Africa which has commenced operations and completed sovereign ratings of countries, including India. CARE has established a subsidiary CARE Ratings (Africa) Private Limited (CRAF) in Mauritius. CARE Ratings and Japan Credit Rating Agency, Ltd. (JCR) has signed a Memorandum of Understanding (MoU) to collaborate with each other as strategic business partners. CARE Ratings has signed a MoU to establish Credit Rating agency in Nepal. CARE RatingsÍ corporate office is located in Mumbai and has other operational offices in Ahmedabad, Bengaluru, Chandigarh, Chennai, Coimbatore, Hyderabad, Jaipur, Kolkatta, New Delhi, Pune & Mauritius