Fedbank Financial Services received ICRA [ICRA]AA+ (Stable) for a new Rs 500 Crore NCD programme and reaffirmed its subordinated debt and CP ratings. The rating action reflects strong parentage from Federal Bank.
Fedbank Financial Services Limited announced that CareEdge Ratings reaffirmed its 'CARE AA+; Stable / CARE A1+' ratings for its instruments. The bank facility limit was enhanced to ₹10,000 Crore from ₹7,500 Crore. The ratings reflect sustained operational improvement and strong parentage support from Federal Bank Limited.