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Srei Equipment's NCD rating gets upgrade

Press Trust of India  |  Kolkata 

The Srei Equipment 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 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 Limited having a pan-presence with offices in 89 locations and claims over 30 per cent market share in infrastructure equipment financing.

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

First Published: Thu, March 16 2017. 17:22 IST