Surya Roshni announced that ICRA Ratings has reaffirmed Credit Rating to
ICRA A1+(CE) for Rs. 200 crore SBLC backed Commercial Paper Program of Surya Roshni (on the credit enhancement by its bankers).
The rating factored in the payment mechanism designed to ensure payment of the rated CPs as per the terms of the transaction.
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Funding India’s clean energy transition
Needed, a flood of funds - istock.com/Pogonici×
As the financing requirement will be huge, the way forward is to focus on subsidised credit enhancement and green taxonomy
India’s commitment to energy transition remained steadfast even amid the Covid-19 pandemic with 22 GW capacity sanctioned at renewable energy (RE) auctions in 2020. However, the capacity of domestic financial institutions to fund this energy transition has not remained unscathed. The RBI’s January 2021
Financial Stability Report indicates that gross non-performing assets of the banking system are set to rise from 7.5 per cent (of total advances) in September 2020 to 13.5 per cent by September 2021.
Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes that will be issued from Mercury Financial Credit Card Master Trust, Series 2021-1 ("MFCCMT 2021-1"), a credit card asset-backed securities transaction. The ratings reflect the initial credit enhancement levels ranging from 33.25% for the Class A notes to 5.00% for the Class D notes. Credit enhancement on the notes consists of i) subordination (except for the class D notes) ii) excess spread generated by the pool of credit card receivables and iii) a reserve account (if funded after the closing date).