The rating of A1+ indicates very strong degree of safety regarding timely payment of financial obligations
Edelweiss Financial Services shares gained more than a percent intraday on June 26 after ICRA reaffirmed its credit rating for company's commercial paper and non-convertible debentures.
The financial services provider informed exchanges that ICRA re-affirmed its credit rating of A1+ assigned to the commercial paper programme of Rs 6,350 crore and short-term non-convertible debenture programme of Rs 100 crore of the company.
The rating of A1+ indicates very strong degree of safety regarding timely payment of financial obligations.
The rating of AA on non-convertible debentures programme of Rs 466 crore of the company now stands as AA- that indicates a high degree of safety regarding timely payment of financial obligations carrying very low credit risk, Edelweiss said.
