Crashes, No Sound, or Screen Glitches?
Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteWindows Errors? Fix Them Before They Spread
Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstallCareEdge Global’s documented sovereign ratings coverage is 45 countries, representing about 85% of global GDP, as reported in the parent company’s FY2025-26 annual report (reporting cutoff March 31, 2026). The 100-country figure is an expansion ambition reported on the company’s second anniversary, October 8, 2026. It is not a current count, and the official material available does not state its scope, timetable or intermediate milestones.
What CareEdge Global is
CareEdge Global is the global ratings business of CARE Ratings. It operates from GIFT City (Gujarat International Finance Tec-City, near Gandhinagar) and offers sovereign, corporate and ESG ratings, along with research and macroeconomic insights. The company describes its role as providing independent sovereign, corporate and ESG ratings and market research. Its website also lists macroeconomic insights, events and webinars.
The business began operations in FY2024-25. In an August 2025 release, CEO Revati Kasture said: “Since the launch of our global scale ratings in October 2024, we have made remarkable progress in expanding our outreach, rating coverage, and services.” The same release said the company had published its 50th global-scale public rating within its first year.
How many countries it rates today
The company’s coverage figures come from three different documents, and they should not be read as one running count:
What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
| Date and source | Sovereign countries covered | Share of global GDP | Status |
|---|---|---|---|
| August 2025, CareEdge Global release (first year of operations) | 39 | 85% | Reported at the end of the first year |
| FY2025-26, CARE Ratings Limited annual report (cutoff March 31, 2026) | 45 | Approximately 85% | Latest documented count; the report says coverage expanded to 45 countries during the year |
| October 8, 2026, second-anniversary coverage (Ahmedabad Mirror) | 45 (repeated) | Not stated in the coverage | Reports the 45-country figure alongside the expansion ambition |
| Expansion ambition reported at the anniversary | 100 | Not stated | Reported ambition; no timetable or coverage definition published in the official material |
Two points follow from the table. First, the annual report’s 45 is a fiscal year-end figure. It is not a live snapshot as of October 2026, and the report does not give a quarter-by-quarter count, so the pace of additions is not known. Second, the GDP share stayed at about 85% while the country count rose from 39 to 45. The sources do not explain the method behind either figure. A plausible reading is that the six added countries were smaller economies, but that is an inference, not a reported fact.
What the 100-country target does and does not establish
The 100-country goal was reported by Ahmedabad Mirror on October 8, 2026, at the company’s second-anniversary event. The available official material does not establish:
- Whether “100 countries” means sovereign ratings only, or also includes other coverage types.
- A deadline, a year-end target, or any interim milestone.
- Whether the goal is measured by published ratings, by active rated relationships, or by a different definition.
The arithmetic is still useful. Reaching 100 would more than double the current count. The United Nations recognises 193 member states, so even 100 rated countries would leave about 93 member states outside that count.
Figures that are easy to confuse with coverage
Ahmedabad Mirror also reported that the company has rated more than $30 billion in debt issued by corporates and financial institutions. That is a separate debt-rating measure. It does not describe how many countries are covered, and it is not a sovereign coverage figure.
Regulatory standing and GIFT City’s role
The company’s official About Us page lists two IFSCA registrations, and the FY2025-26 annual report adds an RBI accreditation:
| Registration or accreditation | Reference as stated | Date | Source |
|---|---|---|---|
| IFSCA credit rating agency registration | IFSCA/CRA/2024-25/001 | July 18, 2024 | CareEdge Global About Us page |
| IFSCA ESG Ratings and Data Products Provider registration | CMI2026ERDPPs1014 | March 11, 2026 | CareEdge Global About Us page |
| RBI accreditation as an External Credit Assessment Institution | Not stated in the annual report | During FY2025-26 | CARE Ratings Limited FY2025-26 annual report |
GIFT City is where the company is based and where its IFSCA registrations sit. IFSCA is the regulator of the International Financial Services Centre, and the registrations above come from that regulator. The sources establish the base and the licences. They do not disclose revenue, client mix or how much of the business is booked in GIFT City.
Rank #4
What the RBI accreditation covers
According to the annual report, the accreditation lets Indian banks use CareEdge Global ratings to risk-weight non-resident corporate exposures. That is the stated scope. It is not a general recognition across all exposures or all jurisdictions, and it should not be read that way.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to read coverage claims from any rating agency
Rating-agency coverage claims mix different measures. When you compare one agency with another, keep these separate:
Recommended Free Tools
Best Value
- Sovereign count: the number of countries with a published sovereign rating, and the date of that count.
- Share of global GDP: the economic weight of the rated sovereigns, and the method used to estimate it.
- Corporate, infrastructure and financial-institution activity: rating counts and debt volumes, reported separately from country coverage.
- Licences and recognition: the regulator, the rating type, and the jurisdiction each one applies to.
- Methodology and outcomes: how ratings are assigned, and what they show over time.
The sources do not provide a like-for-like comparison with other agencies, so no ranking can be drawn from them.
What would confirm the 100-country target
Three things would move the target from reported ambition to documented plan:
- A published definition of what counts as coverage, such as whether a rated sovereign must be covered by a published rating or by a broader service.
- A stated timetable, even a multi-year one.
- The next annual report’s sovereign count at fiscal year-end, which will fall after March 31, 2027 for FY2026-27.
Until one of these appears in official material, the only documented figure is 45 countries.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
