Moody’s upgrades IIFL Finance’s rating to B1 from B2

Apart from this, the rating agency also upgraded IIFL Finance’s foreign currency senior secured debt rating to B1 from B2, and foreign and local currency senior secured medium-term note program ratings to (P)B1 from (P)B2.

The following development are being driven by strong momentum from the company’s asset-light model that has improved its profitability, capital and funding, said Moody’s, adding, the rating outlook remains stable.

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