Asmitha Microfin Rating Upgraded To Crisil B Stable
The upgrade reflects timely servicing of debt by Asmitha over the past six quarters and its improved liquidity, post finalization of its corporate debt restructuring. The company has also received approval from the corporate debt restructuring (CDR) empowered group to raise funds through securitization. CRISIL believes that this will enable Asmitha to sustain its operations outside Andhra Pradesh for a relatively longer period than previously anticipated. This in turn will enhance its ability to meet its debt obligations as per the revised repayment schedule under the CDR mechanism....