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 26 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
Thailand	TRIS Rating Co. Limited (TRIS)
Philippines	Philippine Rating Services Corp.
China	China Cheng Xin International Credit Rating Co., Ltd. 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.
India	Brickwork Ratings India Pvt. Ltd. CARE Ratings Limited Infomerics Valuation and Rating Pvt. Ltd.
Bangladesh	Credit Rating Information & Services Limited Emerging Credit Rating Ltd. National Credit Ratings Ltd.
Indonesia	PT Pemeringkat Efek Indonesia (PEFINDO) PT Kredit Rating Indonesia
Japan	Japan Credit Rating Agency, Ltd. (JCR)
Turkey	JCR Eurasia Rating
Malaysia	Malaysian Rating Corporation Berhad (MARC) RAM Rating Services Bhd
Pakistan	VIS Credit Rating Co. Limited Pakistan Credit Rating Agency Limited (PACRA)
Taipei	Taiwan Ratings Corp (TRC)
Vietnam	Saigon Ratings
Cambodia	Rating Agency of Cambodia (RAC)
Mongolia	Mongolian Investment Rating Agency LLC

• ACRAA’s Website