Edelweiss Proposed Long Term Debt Issue of Rs. 50 Cr. Assigned 'CARE AA' Credit Rating PR Newswire 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 , 91-9820237909 Secondary Media Contact: Raju Kane, firstname.lastname@example.org , 91-9967065656 Contact: PRN
Edelweiss Proposed Long Term Debt Issue of Rs. 50 Cr. Assigned 'CARE AA' Credit Rating
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