Moody's opens new office in India

By Reshmi Basu

New York, Dec. 5 - Moody's Investors Service said it has opened a new office in India, Moody's Investment Company India Private Co. Ltd. in order to improve its services to clients in the country.

Additionally, the ratings agency named Chetan Modi as head and representative director. Modi will be responsible for coordinating the rating agencies' activities in all areas of India's capital markets. He will also serve as the main liaison between Moody's Investors Service and India Credit Rating Agency (ICRA).

Modi previously worked in Moody's London office where he was vice president and senior credit officer in the corporate finance group.

Moody's holds a 29% ownership stake in ICRA, which is the second largest rating agency in India.

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