Ind Ra affirms CreditAccess Grameen's debt instruments at 'A+/ Stable'; Stock gains 1%

India Ratings and Research (Ind-Ra) has taken rating actions on CreditAccess Grameen Limited’s (CA Grameen) debt instruments.

Ind Ra has affirmed the long term bank loans rating and NCDs at IND A+/Stable.

According to the rationale report, Ind Ra expects that the material product diversification and substantial reduction in the geographic concentration while maintaining strong capital buffers, stable asset quality, and comfortable liquidity buffers could lead to a positive rating action.

At around 12:16 PM, CreditAccess Grameen was trading at Rs571.90 per piece up by Rs5.75 or 1.02% on the BSE. Previously, the scrip ended at Rs566.15 per piece on Sensex.