CARE upgrades rating outlook to 'Positive' of Aavas Financiers credit facilities; Stock soars 2%

Short-term rating has been reaffirmed to CARE A1+.

Oct 04, 2021 03:10 IST India Infoline News Service

Aavas Financiers Ltd has informed that based on rating assessment undertaken by CARE Ratings, the outlook of the Company's credit rating has been revised to 'Positive' from 'Stable' while reaffirming the existing ratings.

Long term ratings has been reaffirmed to CARE  AA- with revision in positive outlook while short-term rating has been reaffirmed to CARE A1+.

According to the rationale, on the basis of recent developments including operational and financial performance of the Company for FY21 (Audited) and Q1FY22 (Provisional), the ratings has been reaffirmed.

At around 3:10 PM, AAVAS Financiers was trading at Rs2,603.70 apiece up by Rs48.1 or 1.88% from its previous closing of Rs2,555.60 apiece on the BSE.

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