ACRAA was established in September 2001 under the leadership of JCR.

Profile and Activities of ACRAA

ACRAA, the association of credit rating agencies (CRAs) in Asia, was established in 2001 to promote mutual cooperation among members for the purpose of improving rating quality. In emerging market countries in Asia, rating scales vary from country to country. However, challenges are common in such areas as objectiveness and transparency of rating process, and quality of analysis and rating. In order to jointly address those issues, ACRAA has been establishing and disseminating the best practices in rating process and conducting joint training workshops. In recent years, it has also enhanced its roles to collect information on the global regulatory framework over CRAs, and to provide information on the bond markets and mandatory rating requirements in Asia. As Chairman, JCR has been leading the activities of ACRAA.

List of ACRAA Members

ACRAA’s membership counts 28 CRAs in 15 jurisdictions in Asia.
JCR continuously exchanges information and opinions with the peer CRAs including through its activities at ACRAA.

Country/Region	CRA
Bahrain	Islamic International Rating Agency (IIRA)
Bangladesh	Credit Rating Agency of Bangladesh Limited Credit Rating Information & Services Limited Emerging Credit Rating Ltd. National Credit Ratings Ltd.
India	Brickwork Ratings India Pvt. Ltd. CARE Ratings Limited CRISIL Ratings Ltd. ICRA Limited Infomerics Valuation and Rating Pvt. Ltd.
Indonesia	PEFINDO Credit Rating Indonesia (PEFINDO)
Japan	Japan Credit Rating Agency, Ltd. (JCR)
Korea	Korea Ratings Corporation (Korea Ratings)
Malaysia	Malaysian Rating Corporation Berhad (MARC) RAM Rating Services Bhd
Pakistan	VIS Credit Rating Co. Limited （VIS） Pakistan Credit Rating Agency Limited (PACRA)
China	China Cheng Xin International Credit Rating Co., Ltd. (CCXI) China Lianhe Credit Rating Co., Ltd Fareast Credit Rating Co.Ltd.(FECR) Shanghai Brilliance Credit Rating & Investors Service Co., Ltd. Golden Credit Rating International Co. Ltd.
Philippines	Philippine Rating Services Corp.
Russia	Analytical Credit Rating Agency
Taipei, China	Taiwan Ratings Corp (TRC)
Thailand	TRIS Rating Co. Limited (TRIS)
Turkey	JCR Eurasia Rating
Vietnam	Sigon Ratings

• ACRAA’s Website