Akme Fintrade (India) Limited has informed the Exchange about Credit Rating

Rating UpgradedCredit & Debt View source PDF

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AI summary

Akme Fintrade (India) Limited, an NBFC, has announced updates to its credit ratings assigned by Acuite Ratings. The company received ACUITE A- | Stable rating for long-term instruments and ACUITE A2+ for short-term commercial paper. Notably, two facilities totaling Rs. 280 crore (Rs. 180 crore bank loans and Rs. 100 crore NCDs) were upgraded, while new ratings were assigned for Rs. 575 crore worth of facilities. The total outstanding quantum across all rated instruments stands at Rs. 855 crore, with no withdrawn quantum.

Likely market impact

The rating upgrade signals improved financial health and creditworthiness of the NBFC, which is positive for existing and potential investors as it may lower borrowing costs and improve market confidence.