Acuite revises credit ratings of Edelweiss Financial Services; Stock sheds over 1%

The rating reaffirmation reflects Edelweiss Group’s established track record in financial services with diversified business profile.

Jul 23, 2021 02:07 IST India Infoline News Service

Edelweiss Financial Services Ltd.
Acuité has reaffirmed the long term rating of ‘ACUITE AA’ on the Rs400cr Proposed Secured Non-Convertible Debenture of Edelweiss Financial Services Limited (EFSL) and assigned the long term rating of ‘ACUITE AA’ on the Rs1500.00cr Proposed Secured Non-Convertible Debenture of Edelweiss Financial Services Limited (EFSL). The outlook is ‘Negative’.

The rating reaffirmation reflects Edelweiss Group’s established track record in financial services with diversified business profile, adequate capitalization levels and comfortable liquidity profile.

The rating takes cognizance of the Group’s strategic intent on downsizing its wholesale book and building its retail SME book with focus on the co-origination model which will keep it asset light and provide granularity to loan portfolio. 

At around 2:55 PM, Edelweiss Financial Services was trading at Rs90.80 apiece down by Rs1.35 or 1.47% on Sensex.

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