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The Srei Equipment Finance Limited today said that SMERA Ratings has upgraded its existing unsecured subordinated non-convertible debenture of Rs 700 crore and secured unsubordinated NCD of Rs 700 crore to 'SMERA AA+' with stable outlook from SMERA AA.
"The rating upgrade endorses the quality of our assets and reflects our robust business model..We are favourably placed to ride the growth wave in the infrastructure equipment finance and equipment solutions space," its CEO Devendra Kumar Vyas said.
Company officials said that this upgraded rating would continue on future NCD issues until revised further.
SEFL is a wholly-owned subsidiary of Srei Infrastructure Finance Limited having a pan-India presence with offices in 89 locations and claims over 30 per cent market share in infrastructure equipment financing.
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