ICRA assigns A1+ rating to KSL's Rs 650 cr STD prog

New Delhi, Apr 5 (UNI) Credit rating agency ICRA has assigned an A1+ rating to the Rs 650 crore short-term debt programme of Kotak Securities Ltd (KSL).

The rating indicates highest credit quality rating assigned by ICRA to short term debt instruments. Instruments rated in this category carry the lowest credit risk in the short term.

ICRA has also assigned a LAA rating to the Rs 75 crore long term debt programme of KSL, indicating high credit quality and the rated long term debt instrument carries low credit risk.

The ratings factor in KSL's strong institutional and retail equity broking business, its adequate capitalisation, strong liquidity and the sound risk management systems employed by the company.

The ratings also factor in the strong parentage in the form of Kotak Mahindra Bank Ltd and the groups' favourable experience in capital market related activities.

UNI SS SR BD1553