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Bharat Financial Inclusion gets revision in credit ratings for bank facilities

Capital Market 

Bharat Financial Inclusion announced that leading credit rating agency has reviewed and revised the credit rating assigned to long term / short term bank facilities of the Company aggregating to Rs.7,500 crore and the details of which are given below:

(a)The credit rating in respect of long term bank facilities has been revised from 'A+' (Single A Plus) to 'AA-'(Double A Minus) [Credit watch with positive implications]. According to rating agency, Instrument with rating of 'AA-' are considered to have high degree of safety regarding timely servicing of financial obligations.

Further, such instruments carry low credit risk; and

(b)The credit rating in respect of short- term bank facilities remained unchanged as "A1+' [Credit watch with positive implications]. According to rating agency, Instrument with rating of A1+ are considered to have adequate degree of safety regarding timely servicing of financial obligations. Further, such instruments carry low credit risk.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, January 04 2019. 15:07 IST
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