Rating assigned by Crisil Ratings Limited
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Crisil Ratings has assigned a BBB-/Stable rating to Unifinz Capital India Ltd's Non-Convertible Debentures across two tranches worth INR 1,000 million and INR 700 million, totalling INR 1,700 million. The rating action is 'Assigned,' meaning this is a fresh credit rating, likely linked to a new debt issuance. BBB- is the lowest investment-grade rating on Crisil's scale, sitting just above the speculative-grade threshold. The Stable outlook suggests Crisil does not expect near-term pressure on the company's credit profile.
This rating assignment enables the company to raise up to INR 1,700 million via NCDs at investment-grade pricing, which is positive for funding access. However, the BBB- rating is on the weaker side of investment grade, indicating moderate credit risk and potentially higher borrowing costs compared to higher-rated peers.