CRISIL assigns stable ratings
Leading credit rating agency CRISIL has assigned its "A+/stable" credit rating to the long term bank loan facility of Manappuram Home Finance Private Ltd (MHF). According to CRISIL, Manappuram Home Finance is adequately capitalized for the expected scale of business following infusion of capital of Rs. 55 crore in fiscal 2016 taking its total paid up capital to Rs.100 crore. Additional infusions are expected to support capital adequacy and keep the gearing at around five times over the medium term. These rating strengths are partially offset by a small scale of operations with a limited track record, a modest earnings profile, and exposure to inherent risks relating to the affordable housing finance segment.
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