India Ratings has assigned CSL Finance’s Bank Loans and NCDs at ‘IND BBB+’. The outlook is Stable.
Further, Ind Ra affirmed long-term issuer rating at IND BBB+/Stable.
Ind Ra expects that a material expansion of the franchise in terms of geography and loan book size with granularisation of the portfolio may result in a positive rating action.
CSLFL was incorporated under the Companies Act, 1956 and registered as a non-banking finance company (non-deposit taking) in 2003. The company started its operations in the business of capital market investment and reoriented its business model by venturing into real estate lending in FY11.
On Wednesday at around 12:19 PM, CSL Finance was trading at Rs155 per piece higher by 16.15% on Sensex.
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