THIRUVANANTHAPURA: Kerala Financial Corporation CMD Sanjeev Kaushik on Friday said the rating upgrade received by the corporation reflected its financial discipline and improved profitability. He said the corporation had plans to tap the market again before the end of the current financial year if the market moves favourably.
“Since the time the credit policy of the corporation has been revamped with centralised proposal clearing system and project appraisal done through centralised hubs, the quality of loans has been improved drastically. The MSME sector of the state has been boosted by offering lowest rates under the revised regime of 9.5% base rate system and has benefited thousands of entrepreneurs of the State”, Mr Kaushik added.
The ratings of KFC were upgraded for bonds and bank borrowings. Brick Work Ratings for the Non-Convertible Debentures (NCD) backed with Government guarantee aggregating to Rs 400 crore got upgraded from BWR A- (SO) to BWR A (SO) and bank loans from BWR A- to BWR A, signifying a stable outlook for the Corporation.
