SKS Micro gets CARE rating
City-based non-banking finance company, SKS Microfinance, has been rated PR1+ SO by Credit Analysis and Research Limited (CARE) in accord with its securitised portfolio worth Rs 137 crore with YES Bank.
The securitisation enables YES Bank to purchase from SKS Microfinance 158,000 micro loans offered to scheduled castes, scheduled tribes and other minority sections of the society.
In a press release on Monday, SKS chief financial officer S Dilli Raj said the PR1+ SO rating, which reflected credit quality, was given after an analysis of over 1 million loans extended by SKS.