ICRA assigns AA+ rating to Sundaram Finance’s NCD programme

17 Aug 2011 Evaluate

Credit rating agency, ICRA has assigned AA+ rating with a stable outlook to Rs 750 crore Non-Convertible Debenture (NCD) programme and Rs 250 crore Subordinated Debt Programme of Sundaram Finance.

The company’s ratings are based on its demonstrated ability to operate profitably in the auto finance space on the strength of its strong franchise, moderately low risk appetite and experienced management team. The conservative capital structure in relation to its moderately low risk profile and comfortable liquidity position also support the high credit quality ratings.

Sundaram Finance, a Non Banking Finance Company (NBFC), has a nation-wide presence with over 400 branches, 0.65 million depositors and nearly 100,000 commercial vehicle and car finance customers. The company is mainly engaged in the business of financing the purchase of commercial vehicles and passenger cars.

Sundaram Finance Share Price

5217.50 -46.50 (-0.88%)
29-Apr-2025 16:59 View Price Chart
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