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| Exchange Disseminated Time | Magma Fincorp Ltd has informed BSE that the Company's ratings for the Long Term Secured Bonds and Bank Facilities have been revised by CARE from CARE AA to CARE AA-. The ratings for Long Term Preference Shares have been revised from CARE AA- to CARE A+. The Ratings for all other Instruments remain same. As per the Rating Agency, the revision in the ratings of Magma Fincorp Ltd. takes into account the continued stress in asset quality in FY15 and moderate profitability.
Further, the Company have obtained the Ratings from ICRA on our Long Term Secured Bonds. They have assigned AA- rating with a positive outlook which reflects the changes underway in the Company. |
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