JCR-VIS Credit Rating Company Ltd (JCR-VIS) has assigned a 'preliminary' medium- to long-term rating of 'A+' (Single A Plus) to the secured and listed Term Finance Certificate (TFC) of Rs 500 million, proposed to be issued by Escorts Investment Bank Limited (EIBL).
The entity ratings have been reaffirmed at 'A/A-1' (Single A/A-One). Outlook on the ratings is 'Stable'. The TFC rating will be finalised after examination of all signed legal documents. Proceeds from the TFC will be utilised towards furthering operational diversification.-PR