New Delhi, Oct 16 (UNI) Credit rating agency ICRA today assigned an A1+ rating to the Rs 6,000 crore short-term debt programme of Reliance Capital Ltd (RCL).
The A1+ rating is the highest credit quality rating assigned by ICRA to short-term debt instruments.
The highest safety rating in the short-term takes into account RCL's parentage (Reliance-ADA group), strong capitalisation post the equity infusion in the past 12-18 months and company's current comfortable liquidity profile.
The rating also factors in the group's focus on the financial services domain and its stated intenions to become the largest NBFC in the countyin the medium term.
The rating also takes into account RCL's recent foray into consumer finance, broking, depository and distribution businesses hitherto a new line of business and the group's presence in various financial services such as asset management, life and general insurance and proprietary investments.