Crisil retains A1+ rating on Rs 15000 crore CP programme of DHFL

Crisil Friday retained A1+ rating on Rs 15,000 crore commercial paper (CP) programme of DHFL, whose stocks have been under pressure due to concerns over the default.

Crisil has reaffirmed its credit ratings, DHFL said in a regulatory filing to stock exchanges.

A1 rating instruments are considered to have a very strong degree of safety regarding timely payment of financial obligations.

Such instruments carry the lowest credit risk, as per the definition by Crisil.

Earlier this week, DHFL said it proposes to reduce exposure to CP as part of overall borrowing plan and increase hedging activity, days after the shares of the company tumbled up to 42 percent on massive selling over fears of a liquidity crisis.

The company expects liquidity to remain tight in the second half with volatility in rates.