SBFC Finance Limited has announced the reaffirmation of its credit ratings by CARE Ratings Limited. The company’s long-term bank facilities have been reaffirmed at ‘CARE AA-; Positive’, with an outlook revised from Stable to Positive. Additionally, its commercial paper and non-convertible debenture issuances have been reaffirmed. The total bank facilities have been enhanced to ₹6,000 crore from ₹2,500 crore.
SBFC Finance Credit Rating Update
SBFC Finance Limited has received updated credit ratings from CARE Ratings Limited, reflecting the company’s financial performance and operational developments. The ratings highlight a positive trajectory for the NBFC, particularly its enhanced borrowing capabilities.
Bank Facilities Reaffirmed and Enhanced
CARE Ratings Limited has reaffirmed the credit rating for SBFC Finance’s Long Term Bank Facilities to ‘CARE AA-; Positive’. Significantly, the outlook has been revised from ‘Stable’ to ‘Positive’, indicating an improved assessment of the company’s creditworthiness. The total rated amount for these facilities has been enhanced from ₹2,500 crore to ₹6,000.00 crore. This includes a proposed amount of ₹2,423.24 crore. The rating action for these facilities is ‘Reaffirmed; Outlook revised from Stable’.
Commercial Paper Rating
The credit rating for SBFC Finance’s Commercial Paper issuance has also been reaffirmed. The rated amount stands at ₹200.00 crore with a rating of ‘CARE A1+’. The rating action for the commercial paper is ‘Reaffirmed’.
Non-Convertible Debenture Rating
Furthermore, the company’s Non-Convertible Debentures have been reaffirmed with a rating of ‘CARE AA-; Positive’. The rated amount for this issuance is ₹400.00 crore. The outlook for these debentures has also been revised from ‘Stable’ to ‘Positive’, mirroring the revision for the bank facilities. The rating action is ‘Reaffirmed; Outlook revised from Stable’.
Details of Credit Rating
The current rating details for SBFC Finance include an ISIN of INE423Y07120 for the non-convertible debentures, with a total amount of ₹400.00 crore. The outlook is explicitly stated as ‘Positive’, and the rating action is ‘Reaffirmed’.
Source: BSE
