SKS Microfinance assigned highest grading of 'MFI 1'

SKS Microfinance Ltd has completed a securitization transaction of Rs.54.63 crores with a private sector bank. The pool of receivables securitized are rated A1+ (SO) by one of the leading Credit Rating Agency. This is the third such transaction in the current fiscal. Instruments with a A1+ (SO) rating are considered to have a strong capacity for timely payment of short-term debt obligations and carry the lowest credit risk.

The company was assigned a grading of "MFI 1" (MFI ONE) by one of the leading credit rating agency. The grading is assigned on an 8 point scale with "MFI 1" being the highest and "MFI 5" being the lowest.

The SKS Microfinance Ltd stock closed the day at Rs.148.35, down by Rs.3.60 or 2.37%. The stock hit an intraday high of Rs.153.50 and low of Rs.144.40.

The total traded quantity was 4.82 lakhs compared to 2 week average of 4.63 lakhs.

Source : Equity Bulls

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