ICRA assigns 'LAA' rating to Kotak Mahindra Bank's bonds
Credit rating agency ICRA today assigned the highest 'LAA' rating to the proposed Rs 100 crore upper Tier II bonds programme of Kotak Mahindra Bank.
By PTI |
NEW DELHI: Credit rating agency ICRA today assigned the highest 'LAA' rating to the proposed Rs 100 crore upper Tier II bonds programme of Kotak Mahindra Bank.
The rating indicates high credit quality and low risk, ICRA said in a release.
The rating factors the bank's strong position in commercial vehicle finance and improving franchise in other retail asset segments such as personal loans and mortgage finance, it said.
It also takes into account the bank's improving financial performance and ability to maintain asset quality with negligible losses despite its greater focus on the non- salaried individual segment.
ICRA also assigned 'A1+' rating to the Rs 500 crore short -term debt programme of Investsmart Financial Services, which was increased from Rs 250 crore.
The rating indicates highest quality and lowest credit risk in short term, it said.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
