Credit rating agency, ICRA has upgraded rating assigned to Cholamandalam Investment and Finance Company’s term loan worth Rs 10,213.66 crore to ‘AA+’ from ‘AA-’ and upgraded rating of NCDs worth Rs 12,968.20 crore to ‘AA+’ from ‘AA-’.
The rating agency has also upgraded rating assigned to the company’s perpetual debt worth Rs 1,330 crore to ‘AA’ from ‘AA-’ and has reaffirmed the rating of the Commercial Paper worth Rs 6,000 to ‘A1+’.
Cholamandalam Investment and Finance Company is among the top 5 NBFC’s in the country operating in vehicle finance, home equity, corporate and mortgage finance segments with subsidiaries in the broking and wealth advisory space.
