SKS Microfinance has completed the ninth microfinance securitization during the current financial year of Rs 80.30 crore. With this, the total sum of securitizations completed for FY14 (YTD) is Rs 1,351.21 crore.
The company has downloaded the receivables from micro loans extended to 87,500 rural women entrepreneurs to a Special Purpose Vehicle, and Pass Through Certificates (PTCs) have been purchased by a leading private sector bank. The entire pool comprises receivables from women entrepreneurs belonging to weaker sections, and qualifies for priority sector treatment as per RBI's priority sector lending guidelines.
The pool is rated AA (SO) by a leading rating agency signifying a ‘high degree of safety regarding timely servicing of financial obligations’. Such instruments carry a very low credit risk.
