ICRA has assigned an A1+ rating to Capri Global Capital Ltd's (CGCL) ₹1,500 crore commercial paper programme, signaling strong confidence in the lender's short-term liquidity and repayment capacity.
The rating agency cited the company's diversified lending book and robust asset quality as key factors behind the decision.
The company is currently preparing for its debut in the international dollar bond market, with plans to raise up to $500 million.
Instruments carrying an A1+ rating are considered to have a very strong degree of safety regarding timely payment of financial commitments, placing Capri among the more credible short-term issuers in the Indian non-banking financial company (NBFC) space.
The move comes as Capri Global Capital prepares to expand its funding footprint beyond domestic markets.
The company is currently preparing for its debut in the international dollar bond market, with plans to raise up to $500 million.
This offshore issuance would mark a significant milestone for the lender, diversifying its funding sources and reducing reliance on domestic debt markets.