Finkurve Financial Services Limited has informed the Exchange about Credit Rating- Revision
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Infomerics Ratings Limited has upgraded the credit ratings assigned to Finkurve Financial Services Limited's debt instruments and credit facilities. The non-convertible debentures of Rs. 7.50 crore and long-term term loans (reduced from Rs. 19.06 crore to Rs. 12.22 crore) were upgraded from IVR BBB/Stable to IVR BBB+/Stable. Short-term overdraft/cash credit facilities were upgraded from IVR A3+ to IVR A2 and enhanced from Rs. 11.00 crore to Rs. 29.61 crore. One short-term facility of Rs. 20.00 crore was withdrawn. The combined long-term/short-term proposed facilities were upgraded and enhanced from Rs. 35.14 crore to Rs. 50.87 crore, taking the total rated amount to Rs. 100.20 crore.
This is a positive development for shareholders, as the credit rating upgrade reflects improved creditworthiness and lower perceived risk, which could help the company raise funds at better rates in the future.