SGFIN · price
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SG Finserve Limited has received confirmation from CRISIL Ratings that its credit rating for bank loan facilities of Rs. 1,000 crore has been converted from Provisional to Final. The rating stands at Crisil AA (CE) with a Positive outlook, and has been reaffirmed for the balance facilities. The (CE) suffix indicates the rating factors in credit enhancement support, likely from a parent or group entity. The Rs. 1,000 crore facility is spread across multiple lenders including HDFC Bank (Rs. 400 crore), ICICI Bank (Rs. 150 crore), Bank of Baroda (Rs. 125 crore), Axis Bank (Rs. 100 crore), Union Bank (Rs. 100 crore), South Indian Bank (Rs. 51 crore), and Aditya Birla Finance (Rs. 40 crore). This confirmation removes the conditional nature of the earlier provisional rating, signifying that CRISIL is satisfied with the underlying credit structure.
This is a positive development for shareholders and lenders, as it removes uncertainty around the rating and confirms the company's strong credit profile with a high safety grade and positive outlook. It signals continued access to large-scale institutional funding on favourable terms.