Credit rating agencies, Credit Analysis Research (CARE) and Brickwork Ratings India have assigned ratings to various debt instruments of First Leasing Company.
The company got A1+ rating from CARE for its Commercial Paper limits of Rs 100 crore and also awarded AA- rating for Un-Secured Subordinated Debt aggregating Rs 75 crore.
Further, Brickwork Ratings has assigned AA rating to Rs 75 crore Un-Secured Subordinated Debt program of the company.
First Leasing Company of India is engaged in the business of leasing, hire purchase, loans and wind power generation. It focuses on providing hire purchase and leasing services mainly to the corporate sector. Its clients include Citibank, Johnson & Johnson and Volvo.