SKS Microfinance completes Rs 54 cr securitisation

It is company's third such transaction in the current fiscal,

Hyderabad-headquartered SKS Microfinance Limited today announced that it has completed a securitisation transaction of Rs 54.63 crore with a private sector bank.

It is the company's third such transaction in the current fiscal, it said in a BSE filing today.

The pool of receivables securitized are rated A1+ (SO) by one of the leading credit rating agencies, which is considered to have a strong capacity for timely payment of short-term debt obligations and carry the lowest credit risk.

SKS Microfinance was assigned a grading of "MFI 1" (MFI ONE) by one of the leading credit rating agencies. The grading is assigned on an eight point scale with "MF1 1" being the highest and "MF1 5" being the lowest.

The company's scrip is currently trading at Rs 150.20 on the Bombay Stock Exchange, down 1.15% over the previous close of Rs 151.75.