Credit rating agency, ICRA has upgraded rating assigned to debt instruments of IFCI to ‘A+’ from ‘A’ for long term Bank facilities and long term debt instruments. Moreover, the rating agency has upgraded rating of the company’s Commercial Paper program to ‘A1+’ from ‘A1’.
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.
