ICICI Prudential AMC's FMPs gets high rating from Crisil

MUMBAI: Mutual fund major ICICI Prudential AMC on Thursday said 35 of its fixed maturity plans (FMPs) have been rated by Crisil as those providing strong protection against losses from credit default.

The rating AAAf by Crisil indicates that ICICI Prudential FMPs portfolio holdings provide very strong protection against losses from credit default, a release issued here said.

The company's Managing Director & CEO, Nimesh Shah, said "AAAf rating by Crisil to our FMPs is highly reassuring to investors. It endorses and inspires confidence of our credit quality standards and transparency practices."

"Quality of investment and transparency in approach at the helm of operation is extremely critical for us and is embedded in our system and conscience," he added.

ICICI Prudential AMC is discloses complete details of its securitisation and pass-through certificates across all schemes on a consolidated basis in their monthly fact-sheet apart from giving complete FMP portfolio even though both are not mandatory, Shah said.