ICRA reaffirms SBI Cards' ratings; outlook stable
ICRA reaffirms SBI Cards' ratings, citing strong parentage and liquidity. Outlook stable. Ratings for long term/short term bank lines/commercial paper programme is reaffirmed at [ICRA]AAA (Stable)/[ICRA]A1+.
The reaffirmation of credit ratings typically has a moderate impact, reinforcing investor confidence.
ICRA has reaffirmed the ratings which indicates a stable outlook for the company.
* ICRA has reaffirmed the credit ratings for SBI Cards and Payment Services Limited (SBICARD). * The ratings factor in the strong parentage of SBICARD with a majority stake held by State Bank of India (SBI). * ICRA believes that SBI will maintain a majority stake in the company and will continue providing support, if required, going forward. * The ratings also factor in SBICARD’s strong liquidity position and adequate capitalization. * ICRA has reaffirmed the rating assigned to the ₹500 crore non-convertible debentures (NCDs) and withdrawn as no amount is outstanding against the same. * The ratings for long term/short term bank lines/commercial paper programme is reaffirmed at [ICRA]AAA (Stable)/[ICRA]A1+. * The rating for term loan is reaffirmed/ assigned for enhanced amount of ₹15,000 crore from ₹10,000 crore at [ICRA]AAA (Stable).
What to do with a filing like this
SBI Cards and Payment Services Limited filed this with the NSE as a statutory disclosure, categorised under credit ratings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by SBI Cards and Payment Services Limited. Read the original for the full detail.