|
| Exchange Received Time 01/04/2018 07:07:30 Exchange Disseminated Time 01/04/2018 07:07:34 Time Taken 00:00:04 | This is to inform you that rating agency CARE Ratings has initiated the credit rating of IVL Finance Ltd (IVLF) at CARE AA. Based on standalone strength, there has been no other lending entity in India that has been initiated at such a high rating level. In initiating long-term credit rating at CARE AA, rating agency cited IVL Finance's experienced management team, diversified loan portfolio, healthy financial performance and strong capitalization. Further, CARE states that 'Instruments with CARE AA rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.'
We also wish to inform you that the rating committee of Brickwork Ratings India Pvt. Ltd., has upgraded long-term rating of Indiabulls Ventures Ltd (IVL) to 'BWR AA-' from its earlier assigned rating of 'BWR A+'. IVL Finance Limited is the wholly owned subsidiary of Indiabulls Ventures Limited.
Kindly take the above information on record.
|
|
|