Manba Finance (MFL) has received a change in credit rating outlook from BBB+ (Stable) to BBB+ (Positive) from CARE Ratings for its debt instruments and bank facilities.
CARE BBB+ rating is considered to have the good degree of safety regarding timely servicing of financial obligations. Such instruments carry lowest credit risk. CARE Ratings has considered credit strengths like strong management team, diversified operations, strong financial flexibility in raising funds at competitive rates and strong parentage, as few of the key rating drivers for this upgrade. This revision in outlook by credit rating agencies is an endorsement to the credibility that the Company has earned based on its performance.
Manba Finance is a registered as a non-banking finance company engaged in the business of providing finance. The company primarily deals in the financing of new 2Ws, 3Ws, EV2Ws, EV3Ws and personal loans.
