CARE reaffirms rating of Magma Fincorp’s bank facilities

25 Feb 2013 Evaluate

Credit rating agency, CARE has reaffirmed ‘AA+’ rating to Magma Fincorp’s long-term bank facilities worth Rs 8,220.3 crore which was enhanced from 6,062.6 crore. The rating agency has also reaffirmed AA+/A1+ rating to the company’s long-term / short-term bank facilities worth Rs 600 crore.

The company has received the said rating on the back of its long track record, wide branch network and diversified asset portfolio, comfortable asset quality, good asset-liability maturity profile and capital infusion by reputed entities in FY12.

Magma Fincorp is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an asset finance company. The company, having started operations over two decades back, is listed on the Bombay Stock Exchange and the National Stock Exchange in India.

Poonawalla Fincorp Share Price

318.35 0.05 (0.02%)
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Peers
Company Name CMP
Bajaj Finance 6866.25
Shriram Finance 2882.85
Aditya Birla Capital 186.40
SBI Cards AndPayment 691.35
Mah & Mah Finl. Serv 265.00
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