Icra reaffirms Edelweiss Financial Services’ NCD rating to A+.

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The retail NCD program offered by Edelweiss Financial Services Limited has had its credit rating reaffirmed by rating agency Icra at A+, and its outlook has been changed from unfavorable to stable.

According to the company, the improvement in the forecast is due to the group’s steady financial performance, ongoing debt reduction, strong fundamentals, and improved prognosis for the business.

The group’s well-established position in the financial services sector, its extensive knowledge of the capital market-related business, its diversified business profile with a presence in the asset reconstruction and asset management segment, and a healthy stream of fee and advisory income are all factors considered in the rating’s reaffirmation, according to Icra.

Because of the ongoing reduction in debt level, strong financial performance in key segments, adequate capitalization, and improved prognosis for the real estate industry, the agency has updated the outlook for the long-term rating to stable.

“At Edelweiss, we have maintained a constant focus on constructing resilience and strength to guard against temporary interruptions while generating long-term value by progressively growing our companies. The revision shows our sound commercial foundation and steady financial performance.

Rashesh Shah, chairman of the Edelweiss Group, said, “We continue to strengthen our balance sheet and stay committed to our priorities of wealth creation for our shareholders while investing in growth.

The firm reported consistent performance in FY22, with resilient businesses benefiting from a robust source of fee and advisory income and continuing to scale up customer assets.

The company’s deleveraged balance sheet and good liquidity position, according to the firm, give it further strength. The ratings confirm the group’s well-established position in the financial services sector, its extensive knowledge of the capital markets, asset reconstruction, asset management section, and a steady flow of fee and advisory income, according to ICRA.

Due to the sustained reduction in debt levels, improved financial performance in important sectors, adequate capitalization, and improved prospects for the real estate sector, the agency updated the outlook on long-term ratings to stable.

“At Edelweiss, our continual goal has been to strengthen our ability to withstand interruptions that may only last a short time while also building long-term value by steadily expanding our companies.

The update takes into account our solid industry fundamentals and steady financial performance. “We continue to strengthen our balance sheet and focus on our priorities of unlocking value for our shareholders as we continue to engage in growth,” said Rashesh Shah, chairman of the Edelweiss Group.

The firm reported stable performance in fiscal 2012, with flexible businesses having a robust source of fee and advisory income and ongoing client asset expansion. The company’s deleveraging balance sheet and a good liquidity position, according to the firm, provide additional support.

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