CRISIL assigns AA- / Stable / A1+ ratings to Arka Fincap Limited

Date: December 20, 2019

Publication: India Infoline News Service

Link: "www.indiainfoline.com/article/news-business/crisil-assigns-aa-stable-a1-ratings-to-arka-fincap-limited-119122000259_1.html"

According to CRISIL’s rating definition, instruments with 'AA-' are considered to have a high degree of safety regarding timely servicing of financial obligations.

Arka Fincap Limited, the recently established fully owned subsidiary of Kirloskar Oil Engines Limited has received a rating of AA-/ stable for long term and rating of A1+ for short term facilities from CRISIL.

Commenting over the announcement, Vimal Bhandari, Executive Vice Chairman & CEO, Arka Fincap Limited, said, “The assigned rating is very encouraging in the present market scenario and reflects the business profile of Arka and its strong parentage. This affirms the efforts that have been put in place to build a robust and risk adjusted lending business by the company. Our focus would continue to be a trustworthy and customer centric player in the market and create value for our stakeholders.”

According to CRISIL’s rating definition, instruments with 'AA-' are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. Rating of A1+ is the highest rating for short term instruments.