Cholamandalam gets AA- rating for subordinated debt programme from CARE

Cholamandalam Investment and Finance Company has received AA- rating for subordinated debt programme worth Rs 100 crore from credit rating agency CARE.

The company has received the said rating on the back of its established track record in commercial vehicle financing and the strong parentage of the Murugappa Group. The rating has also got support from its good asset quality of the secured lending portfolio and comfortable liquidity profile.

Cholamandalam Investment 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. It is emerging as a high growth company in the retail lending space with a branch network of over 220.