Credit rating agency, ICRA has reaffirmed the assigned credit rating to long term bonds programme of IFCI at ‘A’. The outlook on long term rating has been revised from stable to negative. Besides, the short term rating assigned to the Commercial Paper programme has been retained at ‘A1’.
IFCI was established with an intention to provide long-term finance needs of the industrial sector. It got listed in the year 1993 changed its status from statutory corporation to a company. 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.
