CRISIL's association with Standard & Poor's, a division of The McGraw-Hill Companies, dates back to 1996 when both companies started working together on rating methodologies and joint projects. Since then, the two organisations have significantly broadened this relationship, working together on critical, cutting-edge assignments for global clients.

This partnership has now culminated in Standard & Poor's acquiring a majority shareholding in CRISIL.

The McGraw-Hill Companies has, for over a century, built strong global businesses and leading positions in financial services, education and business information. The Corporation's market-leading brands include, among others, Standard & Poor's, BusinessWeek, Platts and J.D. Power.

Standard & Poor's, the financial services business of The McGraw-Hill Companies, is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research, data and valuations. With 6,000 employees located in 20 countries and markets, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions.

CRISIL's Ratings division collaborates with S&P on several projects in the East Asian region and the U.S. These projects are progressing well and discussions are on for new projects of similar nature.

As part of CRISIL's association with S&P, a number of CRISIL analysts have been deputed on secondments to S&P, or have been trained at S&P. CRISIL has also benefited greatly from exposure to international rating markets, and from access to rating processes and methodologies established over long years at S&P.

CRISIL has provided assistance to S&P in the past for setting up and maintaining equity indices, and has ongoing collaborations on several S&P projects.