Highest safety rating for Sundaram Finance
New Delhi: Sundaram Finance's Rs 150 crore medium term debenture and Rs 50 crore short term debt issues have been assigned the highest safety rating by credit rating agency Icra.

Icra also retained the highest safety rating to its fixed deposit programme, apart from re-assigning the same safety to Rs eight crore long term debenture after factoring in the strong franchise and its ability to generate good quality assets in the core retails business even amid recessionary market conditions.

Icra cautioned that increased competition in the financial services industry and the sustained pressure on the lending rates were expected to impact profitability over the long term.
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