NDB Aviva, ICRA break new ground in Sri Lanka

ICRA Lanka Limited, a wholly owned subsidiary of ICRA Ltd., an associate of Moody’s Investors Service, has assigned a credit risk rating of ‘[SL] AAAmf’ to NDB Aviva Wealth Managements Eagle Gilt Edged Fund.

The rating assigned to NDB Aviva’s Eagle Gilt Edged Fund is not only ICRA’s first-ever mutual fund credit risk rating in the Sri Lankan market but is also the first such rating in the country

ICRA said it was venturing into Sri Lanka and its increasing footprint beyond the Indian borders underscore the growing international acceptance of an agency that is already a leading provider of credit rating and investment information services in India.  Significantly, in addition to the presence in Sri Lanka through a wholly owned subsidiary and in Indonesia through a 99% subsidiary, ICRA has also helped in establishing rating agencies in several other countries, like CRAB in Bangladesh, CRC in Kuwait and BCRA in Bulgaria.