ICRA Limited (ICRA) is an independent and professional investment Information and credit rating agency. The Company operates through four segments: Rating, research and other services; Consulting services; Outsourced and Information services, and Professional and I.T. Services. The Company is engaged in providing rating and grading services. ICRA rates rupee-denominated debt instruments issued by manufacturing companies, commercial banks, non-banking finance companies, financial institutions, public sector undertakings and municipalities, among others. ICRA also rates structured obligations and sector-specific debt obligations, such as instruments issued by power, telecom and infrastructure companies. It offers other services, which include corporate governance rating, stakeholder value and governance rating, credit risk rating of debt mutual funds, project finance rating, line of credit rating and valuation of principal protected-market linked debentures (PP-MLD).