Mumbai : Credit rating agency, ICRA has re-affirmed Edelweiss Financial Services’ credit rating of A1+ assigned to the Commercial Paper Programme of Rs 6,350 crore and Short-term Non-convertible Debenture Programme of Rs 100 crore.
Further, ICRA has re-affirmed the credit rating of AA to the Non-convertible Debentures Programme of Rs 466 crore of the company and, revised the outlook from stable to negative. As of date, no debt is outstanding pursuant to this rating and, accordingly, the rating remains unutilized.
Edelweiss Financial Services is primarily engaged in the business of rendering merchant banking services. The company operates in two segments – agency business and holding company activities.