SME Rating Agency of India Ltd (SMERA) has assigned its 15,000th SME Credit Rating to Magnum Pigments & Polymers Pvt Ltd. The Credit Rating assigned to M/s Magnum Pigments & Polymers Pvt Ltd is " MSME 1 ", which is highest safety Credit Rating assigned to a MSME.

On this occasion, Mr Parag Patki, CEO, SMERA, expressed his happiness on crossing a landmark of 15,000th Credit Rating by SMERA, under the non-Basel category. He lauded M/s Magnum Pigments & Polymers Pvt Ltd's endeavour in embracing the rigor of credit rating for over 5 years in a row and utilising credit ratings as a mirror for units' consistent improvement. He appreciated the awardee units' desire to excel consistently in performance, even during recession.

M/s Magnum Pigment & Polymers Pvt Ltd is a Mumbai based unit and is led by Mr B S Rai who has a degree in Electrical Engineering and Diploma in Management with more than two decades of experience in similar line of business. M/s Magnum Pigments & Polymers Private Limited incepted in the year 1991, is a manufacturer, exporter and importer of quality range of pigment emulsion, specialty chemicals, construction chemicals and synthetic Resins. The company serves various industries such as: printing textile, construction petroleum paint industry.

SMERA has been rating Magnum Pigments & Polymers Pvt Ltd since 2005 and the units' rating has exhibited consistent improvement from "Average (MSME 4) in FY 2005-06 to Highest Category (MSME 1) ratings" in FY 2011-12.

SMERA started as a Credit Rating Agency for the Micro, Small and Medium Enterprise sec?tor in India, however its registration with Securities and Exchange Board of India (SEBI) as a 6th Credit Rating Agency, has paved way for SMERA to rate the capital market instruments, such as: IPO, Bonds, Security receipts, amongst others to large corporate sector.

SMERA is Mumbai-based rating agency, incorporated in August 2005 and promoted by SIDBI, Dun & Bradstreet and other leading banks in the country.