M-CRIL is the world leader in credit ratings or risk assessments of microfinance institutions. M-CRIL has undertaken over 390 ratings and assessments of MFIs across 16 countries in South Asia, South East Asia, Central Asia and the Pacific. M-CRIL has developed robust understanding of operations of microfinance institutions. M-CRIL has successfully facilitated the flow of significant amount of commercial funds to the microfinance sector.  

Rating involves a detailed risk assessment/creditworthiness appraisal of MFIs providing a professional and rigorous opinion on the relative ability of an MFI to make timely and complete payments on loan obligations to lenders. M-CRIL's rating provides a credit risk outlook of the rated MFI and an assessment of the areas of strength and weakness in its operation. It involves detailed observations on governance aspects, managerial factors and financial performance and also presents a comparison with M-CRIL's vast database on some critical performance areas.

The report comments on the risk grade and the suggested lending amount and conditions.

Review of the following sample rating reports, rating methodology and rating scale provides a better understanding of M-CRIL's ratings.

Sample Rating Reports

	BURO, Tangail (BT), Bangladesh
	Cooperative Rural Bank of Bulacan, Inc (CRBBI), Philippines
	Ennatien Moulethan Tchonnebat (EMT), Cambodia
	Activists for Social Alternatives (ASA), India
	Bhartiya Samruddhi Finance Limited (Samruddhi), India

Rating Methodology

Rating Scale

Rating Procedure

The process for the commissioning a rating is very simple.  MFIs and/or organisations supporting MFIs could choose following relevant procedures to commission a rating.

Commission a Rating: Microfinance institutions and/or organisations (donors, financial institutions) supporting microfinance institutions could commission a rating.

Contact M-CRIL to commission a rating.

Apply to CGAP Rating Fund for financing a Rating: A microfinance institution could apply to the CGAP Rating Fund to finance its rating.  Please visit the following site for details on the application process.

CGAP Rating Fund Application Process http://www.ratingfund.org/content.aspx?k=MFI_APPLICATION

You could also contact M-CRIL for assistance with the Rating Fund application process.