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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