Credit Rating Agency of Bangladesh Ltd (CRAB) has received prestigious Country Award 2017, as Rating Agency of Year, from The Asset Asian Awards, Hong Kong.
The announcement was made at a gala event in Hong Kong recently, and the award was handed over to CRAB on April 05, 2018, according to a statement.
The other rating companies which also received awards this year are Fitch Ratings, Moody's Investors Service, S&P Global, China Lianhe Credit Rating Company, and RAM Rating of Malaysia.
The Asset awards are Asia's preeminent recognition for those that have excelled in their respective industries. With close to 20 years of experience in conducting awards programmes, The Asset has gone from strength to strength in distinguishing best in class organisations and individuals.
The award criteria for rating agencies are transparency of rating methodology, number of ratings conducted, default and stability rates, methodologies applied for investor protection, investor outreach and education etc.
Credit Rating Agency of Bangladesh Ltd. (CRAB) is the leading credit rating agency of Bangladesh, providing rating, grading, advisory and information services.
The company started its journey in 2003 and it was granted license by the Securities & Exchange Commission (SEC) of Bangladesh for operating as a credit rating company in February 2004.
The formal launching of the company was held on April 05, 2004. CRAB has been accredited as an External Credit Assessment Institution (ECAI) by Bangladesh Bank in 2009, which status gives it the eligibility to provide rating of bank credit exposures for risk weighted capital adequacy calculation.
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