Credit rating agency, CARE has assigned ‘AA’ rating to Magma Fincorp’s (MFL) Proposed Secured Non-convertibleDebenture (NCD) issue worth Rs 421 crore. The rating of Magma Fincorp (MFL) continues to draw strength from the long track record, experienced management team, wide branch network, increasing scale of operation and diversified asset portfolio with increasing share of high yield products over the years.
Magma Fincorp is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an asset finance company. The company, having started operations over two decades back, is listed on the Bombay Stock Exchange and the National Stock Exchange in India.
