ICRA assigns A1+ to Rs 400 cr STD prog of SBIF

New Delhi, Jul 11 (UNI) Credit rating agency ICRA today assigned an A1+ rating to the Rs 400 crore short-term debt programme of SBI Factors and Commercial Services Private Ltd (SBIF).

ICRA has also retained the LAAA (pronounced L triple A) rating to the Rs 40 crore long-term debt programme of SBIF.

The rating of LAAA is the highest-credit-quality rating.

The highest credit quality ratings factor in the improving operating profitability, financial support that SBIF gets from parent SBI, besides SBIF's increasing franchise and market presence, financial flexibility arising from unutilised lines of credit.

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