Feb 03 2021
Credit rating agency CRISIL assigns long-term rating of BBB+/Stable to Dvara KGFS. The rating centrally factors in the highly experienced profile of the company's board and management and continuous support of the founder-promoter, Dvara Trust (erstwhile IFMR trust); adequate capital position that has been strengthened further by recent equity infusion; and diversified resource profile.
Commenting on the rating upgrade, Joby C O, Chief Executive Officer, Dvara KGFS, said "BBB+ rating assigned by CRISIL is an endorsement of the credibility that Dvara KGFS has earned based on its consistent performance in the past many years. This is a positive reflection on our unique customer centric Wealth Management approach, Deep Rural focus & improved operational processes backed by robust and state of the art digital capabilities”
Highlighting the importance of the rating assigned by CRISIL , G Vijayakumar, Chief Financial Officer, Dvara KGFS, said "This one notch improvement in rating from BBB to BBB+ is a significant achievement considering the severe diruptions caused by covid-19 and is a testimony of the robust business platform that we have created over the years . It will reinforce the trust and confidence our investors and lenders have placed on us. We are hoping that this will boost our fund-raising efforts in the coming quarters."
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