Cholamandalam gets ‘A+’ rating for perpetual debt instruments from CARE

Credit rating agency, CARE has assigned ‘A+’ rating to the perpetual debt instruments worth Rs 200 crore of Cholamandalam Investment and Finance Company.

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 is also backed by adequate capitalization, decent asset quality of the secured lending portfolio and comfortable liquidity profile.

Earlier in June this year, the company had received AA- rating for subordinated debt programme worth Rs 100 crore from credit rating agency CARE.

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.