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ICRA assigns [ICRA]AA+ ratings to Fedbank Financial Services’ NCD programme valued at Rs. 500.00

06-Nov-26 17:28 Hrs IST

Fedbank Financial Services Ltd has announced ratings actions from ICRA Limited and SEBI, covering a range of instruments. ICRA Limited has assigned an [ICRA]AA+ (Stable) rating to the company’s Non-convertible debenture (NCD) programme of Rs. 500.00 and reaffirmed the [ICRA]AA+ (Stable) rating on its subordinated debt of Rs. 750.00 and commercial paper of Rs. 2,500.00, while also reaffirming the [ICRA]A1+ rating on its commercial paper; ICRA’s outlook reflects benefit from association and support from FBL, expectation of stable asset quality and controlled leverage, and notes regular capital infusions of Rs. 471 crore, credit lines from FBL amounting to Rs. 1,200.1 crore, and details write-offs of Rs. 134 crore planned for FY2026 and Rs. 59 crore in H1 FY2027, alongside Stage 3 Provision Coverage of 35.4% as of September 2026 and 32.3% as of March 2026, and overall provisions of 1.5% of on-book loans as of September 2026, compared to 1.8% during the prior period, with SEBI also assigning ratings to subordinated debt instruments of Rs. 250.00, Rs. 200.00, Rs. 300.00, and the NCD programme of Rs. 500.00, all carrying an AA+ (Stable) rating, alongside various commercial paper instruments rated A1+ by RBI, ranging from Rs. 100.00 to Rs. 660.00.

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