Poonawalla Fincorp receives upgrade in ratings and outlook from CARE

Poonawalla Fincorp announced that CARE has upgrade its ratings and outlook on the company's debt instruments as under:

Long term bank facilities (Rs 9655.65 crore) - CARE AA+; Stable (revised from CARE AA- and removed from credit watch with developing implications)

Short term bank facilities (Rs 1100 crore) - CARE A1+ (assigned)

Long/ short term bank facilities (Rs 344.35 crore) - CARE AA+; Stable / CARE A1+ (Revised from CARE AA-/ CARE A1+ and removed from credit watch with developing implications)

Secured NCDs (Rs 280 crore) and Proposed secured NCDs (Rs 3061.60 crore) - CARE AA+; Stable (revised from CARE AA- and removed from credit watch with developing implications)

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