2nd-Nov-2011 17:12Source: BSE

Cholamandalam - Credit Rating

Cholamandalam Investment and Finance Company Ltd has informed BSE that the Company has received letters dated November 01, 2011 from ICRA Ltd, upgrading / reaffirming its existing ratings for the various instruments issued by the Company as follows:

- Instrument: Non-Convertible Debenture / Cash credit / Term loan facilities from banks / Subordinate debt programme
Existing rating: [ICRA] AA-
Revised rating: [ICRA] AA

- Instrument: Perpetual debt programme
Existing rating: [ICRA] A+
Revised rating: [ICRA] AA-

- Instrument: Short term working capital facilities / commercial paper / short term debt programme
Existing rating: [ICRA] A1+
Revised rating: [ICRA] A1+

The outlook on the long-term rating is ''Stable''.