Brickwork Ratings (BWR) reaffirms the rating of non-convertible debentures and withdraws the rating of bank loan facilities of IDFC First Bank Ltd.
Brickwork Ratings reaffirms ‘BWR AA+/Stable’ rating on Bank’s Non-Convertible Debentures of Rs2496.90cr.
BWR continues to maintain the bank’s outlook as stable as it expects the bank to continue increasing its business mix in favour of a retail portfolio over the next year, especially in better yielding assets, along with an increase in the CASA ratio, continual growth in earnings and operating profits, the maintenance of comfortable capital adequacy ratios and infusion of capital funds to assist business growth and manage incremental delinquency, if any.
BWR has withdrawn the rating of bank loan facilities of IDFC First Bank.
On Friday, IDFC FIrst Bank ended at Rs59.15 per piece higher by Rs1.25 or 2.16% on Sensex.
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( With inputs from indiainfoline)