Edelweiss Proposed Long Term Debt Issue of Rs. 50 Cr. Assigned 'CARE AA'
MUMBAI, July 5, 2013
MUMBAI, July 5, 2013 /PRNewswire/ --
The CARE Ratings has assigned a 'CARE AA' (Double A) rating to Edelweiss
Proposed Long Term Debt Issue of Rs. 50 cr. Instruments with this rating are
considered to have a high degree of safety regarding the timely servicing of
financial obligations and carry very low credit risk.
Edelweiss has always focused on creating a strong and liquid balance sheet
that enables deployment of capital for launching and scaling up new
businesses. The company's Total Balance Sheet size as on 31 ^st March, 2013
was Rs. 14,528 cr. The company's Total Borrowings as on 31 ^st March 2013 were
Rs. 11,533 cr and has a Net Debt Gearing of 2.8 times.
Mr. S Ranganathan, President & CFO, Edelweiss Financial Services said, "Over
the last two years we have embarked on a strategy of reducing our short term
liabilities as a part of our prudent risk management practices." "The company
has successfully brought down dependence on short term borrowings by
contracting stable bank lines of funding and increasing liabilities in the six
months to three years bucket," he added
About Edelweiss Financial Services
Edelweiss is one of India's leading diversified financial services Group.
Edelweiss offers a large range of products and services spanning across asset
classes and consumer segments. Its businesses are broadly divided into Credit
including Retail Finance and Debt Capital Markets, Capital Markets including
Asset Management, Commodities and Life Insurance. The group's research-driven
approach and proven history of innovation has enabled it to foster strong
relationships across corporate, institutional and individual clients.
The life insurance, retail finance including housing finance, mutual fund and
retail broking businesses - both online and offline formats -have paved the
way for Edelweiss to cater to the large retail client segment. Edelweiss'
presence now covers 211 offices in 106 cities in India and abroad with 3,907
employees. Together with 4,003 strong network of sub-brokers and authorized
persons, Edelweiss group has presence across nearly 545 cities in India
catering to over 450,000 clients across various businesses in retail and
wholesale segments. For more information visit http://www.edelweissfin.com/
Primary Media Contact: Revathi Pandit, email@example.com ,
Secondary Media Contact: Raju Kane, firstname.lastname@example.org , 91-9967065656
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