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Credit rating agencies (CRA) play an important role in assessing risk and credit worthiness in the financial system. Over the years, the Indian Financial System regards credit ratings as an integral part of the framework for credit and investment decisions. Credit Ratings can also play a pivotal role for MSME sector since banks and other financial institutions focuses on lending and offering other financial services to MSMEs. Various Credit rating agencies also give rating to the country by measuring its credit profile and economic profile. This rating analyzes the general economic scenario and stability of the country.