CARE Ratings enhanced AAVAS Financiers Ltd.'s Long Term Bank Facilities to Rs. 12,762.00 crore
AAVAS Financiers Ltd. announced that CARE Ratings Limited has enhanced the rating of its Long Term Bank Facilities from Rs. 12,262.00 crore to Rs. 12,762.00 crore, and assigned a rating of CARE AA(RWD) to a Non-Convertible Debenture Credit Rating of Rs. 100.00 crore, all of which remain on Rating Watch with Developing Implications; CARE Ratings also continues to rate Long Term Bank Facilities at Rs. 12,762.00 crore, Non-Convertible Debenture Credit Rating at Rs. 1259.92 crore, and several Non-Convertible Debentures ranging from Rs. 15.00 to Rs. 200.00, all carrying the CARE AA (RWD) rating, with some instruments having specific maturity dates and coupon rates, while a proposed issue of Rs. 149.18 is pending; additionally, CARE Ratings noted a view pending on the implications of events on the credit risk profile, and indicated that ratings do not account for sovereign risk, while CareEdge Ratings provided a rating reflecting opinions as of a specific date, and CARE Ratings also noted instances where ratings are based on information due to the issuer not cooperating.