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Indian Tractor Industry – Monthly Update        Indian Sugar Sector: De-growth in domestic sugar consumption in SY2017 unlikely to affect price and profitability        Indian Mortgage Finance Market Update for 9MFY2017: Affordable housing segment to remain key growth driver Performance Review of Housing Finance Companies and Industry Outlook        Indian Construction Sector: Revival of irrigation sector backed by adequate funding support is a credit positive for construction companies        Apparel And Fabric Industry: Apparel And Fabric Industry In Knots Over Sluggish Exports, Demonetisation Woes        Half of the available indicators recorded improvement in February 2017, while an unfavourable base led to deterioration in some of the other indicators        Telecom Tower Sector: Growing Data Tenancies And Strong Financial Position Are Positives Despite Headwinds From Stress In Telecom Sector        INR rises to 16-month high on risk-on sentiment, lower crude prices; global risks, domestic earnings to dictate outlook        Indian Steel Industry: Sluggish domestic demand weighs down on steel prices        Indian Corporate Sector: Trends & Outlook       
 
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Indian Sugar Sector: De-growth in domestic sugar consumption in SY2017 unlikely to affect price and profitability
Indian Tractor Industry – Monthly Update
Half of the available indicators recorded improvement in February 2017, while an unfavourable base led to deterioration in some of the other indicators
Indian Construction Sector: Revival of irrigation sector backed by adequate funding support is a credit positive for construction companies
More...
 
MICROFINANCE INSTITUTIONS

An ICRA MFI Grading is a symbolic indicator of ICRA's current opinion on the relative capability of the Microfinance Institution (MFI) concerned to manage its microfinance activities in a sustainable manner. An ICRA MFI Grading is not a comment on any specific debt servicing capability of the MFI.

The focus of ICRA's MFI Grading exercise is on evaluating the candidate institution's business and financial risks. ICRA forms an opinion on an MFI's business risk by analysing, among other factors, its operating environment, governance structure, management and systems, scalability (in relation to business plans), and asset quality. Financial risk is assessed through an evaluation of factors including the MFI's liquidity position, funding policies, capitalisation profile and profitability.

ICRA's MFI Grading Scale

M1

Indicates that in ICRA's current opinion, the Graded MFI's ability to manage its microfinance activities in a sustainable manner is the highest.

M2
Indicates that in ICRA's current opinion, the Graded MFI's ability to manage its microfinance activities in a sustainable manner is high.

M3
Indicates that in ICRA's current opinion, the Graded MFI's ability to manage its microfinance activities in a sustainable manner is moderate.

M4
Indicates that in ICRA's current opinion, the Graded MFI's ability to manage its microfinance activities in a sustainable manner is below average.

M5
Indicates that in ICRA's current opinion, the Graded MFI's ability to manage its microfinance activities in a sustainable manner is weak.

Note: For the Grading categories M2, M3 and M4, the sign of + (plus) may be appended to the Grading symbols to indicate their relative position within the Grading categories concerned. Thus, the Gradings of M2+, M3+ and M4+ are one notch higher than M2, M3, and M4, respectively.

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