By Zach Fuchs
MFIs obtain ratings either to lower their cost of funds, or to tap a broader pool of investors. That’s why the likes of Standard & Poor’s, Moody’s and Fitch have only just begun to look at MFIs and their bonds. Some blue-chip MFIs like BancoSol and Acleda Bank have obtained ratings from mainstream agencies; most, though, are evaluated by local raters or specialized rating agencies with more modest fee structures that smaller MFIs can afford.
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