Arman Financial Services NCD outlook moves to Stable from Negative

The rating action in numbers

The rating reaffirmed and the outlook change

CARE Ratings has reaffirmed the 'CARE A-' rating assigned to the company's Non-Convertible Debentures facilities, which is read as CARE A Minus. CareEdge Ratings has also revised the outlook on those facilities from 'Negative' to 'Stable'.

A rating is an opinion from the agency on creditworthiness, and the outlook indicates the direction the agency expects the rating may take over the medium term. The outlook change also applies to the NCD facilities of Namra Finance Limited, the wholly owned subsidiary.

Scope of the debentures covered

The existing NCD facilities are identified by ISIN INE109C07113, at ₹42.00 crore. Proposed Non-Convertible Debentures of ₹28.89 crore are also referred to, and the reaffirmation covers both.

What the rating action means for Arman Financial Services' shareholders

The rating action covers a reaffirmed rating and a more stable outlook on the company's debentures, extended to subsidiary Namra Finance Limited. It does not say how the rating affects the company's borrowing costs or results.

Not given: the rating rationale, the factors that could move the rating or outlook again, and the maturity and coupon terms of the debentures. No next dated step is set out.

Reference: Original filing (PDF)