Mumbai, Maharashtra: Crisil on Friday retained ‘A1+’ rating on Rs. 15,000 crore commercial paper (CP) programme of DHFL, whose stocks have been under pressure due to concerns over default.
Crisil has reaffirmed its credit ratings, DHFL said in a regulatory filing to stock exchanges.
The A1 rating instruments are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk, as per the definition by Crisil.
Earlier this week, DHFL said it proposes to reduce exposure to CP as part of overall borrowing plan and increase hedging activity, days after the shares of the company tumbled up to 42% on massive selling over fears of a liquidity crisis.
The company expects liquidity to remain tight in second half with volatility in rates.