CARE assigns A+ rating with stable outlook to Edelweiss Financial Services’ NCDs

The credit rating agency has reaffirmed CARE A1+ assigned to company’s Commercial Paper programme of Rs1,575cr.

Nov 12, 2020 10:11 IST India Infoline News Service

Edelweiss Financial Services Ltd.
CARE Ratings Limited has assigned the credit rating of CARE A+ with Stable outlook for the proposed issuance of Non-Convertible Debentures (Public Issue) of Edelweiss Financial Services Limited.

Further, the credit rating agency has reaffirmed CARE A1+ assigned to company’s Commercial Paper programme of Rs1,575cr (reduced from Rs6,350cr).

“Instruments with CARE A are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.

Instruments with CARE A1 are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk. The ratings remain unutilised,” company shared in a regulatory filing on Wednesday.

At around 10.58 am, Edelweiss Financial Services Ltd was trading at Rs53.40 per equity share up by Rs0.2 or 0.38% from its previous closing of Rs53.20 per equity share on the BSE.

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