Credit rating agency CRISIL has assigned BBB+ rating to Dvara Kshetriya Gramin Financial Services (Dvara KGFS) with a ‘Stable’outlook outlook on the rating is set at the stable. The rating reinforces the strength of Dvara KGFS operations and signifies its strong position in meeting its financial obligations.
MUMBAI: Credit rating agency CRISIL assigns long-term rating of BBB+/Stable to Dvara KGFS. The rating centrally factors in the highly experienced profile of the company’s board and management and continuous support of the founder-promoter, Dvara Trust (erstwhile IFMR trust); an adequate capital position that has been strengthened further by recent equity infusion; and diversified resource profile.
Commenting on the rating upgrade, Joby C O, Chief Executive Officer, Dvara KGFS, said “BBB+ rating assigned by CRISIL is an endorsement of the credibility that Dvara KGFS has earned based on its consistent performance in the past many years. This is a positive reflection on our unique customer-centric Wealth Management approach, Deep Rural focus & improved operational processes backed by robust and state of art digital capabilities”
Highlighting the importance of the rating assigned by CRISIL, G Vijayakumar, Chief Financial Officer, Dvara KGFS, said “This one notch improvement in rating from BBB to BBB+ is a significant achievement considering the severe disruptions caused by covid-19 and is a testimony of the robust business platform that we have created over the years. It will reinforce the trust and confidence our investors and lenders have placed in us. We are hoping that this will boost our fund-raising efforts in the coming quarters.“
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Copyright © 2014 - 2021 The Global Indian New Network (TGINN)