Credit rating agency, ICRA, after review of performance of IFCI, has removed the rating watch with negative implications and has reaffirmed the ratings at A for long term bond programmes and long term bank lines and A1 for commercial paper programme of IFCI. The outlook for ratings has been revised to ‘Stable’.
IFCI was established with intent to provide long-term finance needs of the industrial sector. It founded and developed various institutions namely ICRA for credit assessment rating, Tourism Finance Corporation of India (TFCI) for promotion of the hospitality industry, among others.
