Chandigarh, July 05, 2016: Srei Equipment Finance Limited ("Srei") today announced that Brickwork Ratings has upgraded its rating to BWR 'AA+' with Stable Outlook from BWR "AA" for its non-convertible debentures (NCDs) aggregating to Rs 2,130 crore.
The rating indicates that the instruments are considered to have high degree of safety regarding timely servicing of financial obligations. It also implies that the instruments carry very low credit risk.
Srei, one of India's largest equipment financing institutions, is a wholly-owned subsidiary of Srei Infrastructure Finance Limited ("SIFL"). The company has a pan-India presence with offices in 89 locations and enjoys over 30% market share in infrastructure equipment financing.
Commenting on this credit rating upgrade, Mr. Hemant Kanoria, Chairman and Managing Director, Srei Infrastructure Finance Limited, said: "The rating upgrade reflects Srei's notable recovery in performance on all-round basis. This upgrade recognises Srei's dominant market share, unparalleled expertise in equipment financing and 26 years of experience in equipment financing business which has contributed to the marked improvement in its financials. We believe that this upgrade will enable us raise resources from the market and financial institutions at lower interest thereby contributing to enhanced bottomline."
About Srei:
Srei is one of India's largest private sector integrated infrastructure institutions, constantly and consistently delivering innovative solutions in the infrastructure sector. The company has been playing a significant role in nation-building for two-and-a-half decades, both in urban and rural India. Srei's businesses include Infrastructure Project Finance, Advisory and Development, Infrastructure Equipment Finance, Alternative Investment Funds, Capital Markets and Insurance Broking. Srei is headquartered in Kolkata and has presence across India.