Credit rating agency, CARE has reaffirmed ‘AA-’ rating to Manappuram Finance’s enhanced Non-Convertible Debenture issue (proposed) worth Rs 300 crore. The rating assigned to the proposed non-convertible debenture issue of the company continues to factor in the long track record and the established market position of the company as one of the leading players in the gold loan industry in India, experienced promoters & management team, comfortable capitalization level, comfortable liquidity position and adequate risk management & management information systems in place.
Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.
