Key Points of Crisil Boosts Credit Saison India Rating to AAA:
- Credit Saison India has been upgraded to a AAA/Stable rating by Crisil Ltd.
- The upgrade comes after the company’s lending operations commenced 3.5 years ago.
- The rating reflects the improvement in the credit profile of the parent company, Credit Saison Co Ltd, Japan.
- The continued high strategic importance of the Indian entity is also highlighted in the rating.
- The strong commitment of the parent company to its Indian business is recognized.
- Credit Saison India achieved growth by receiving continuous equity support from its parent.
- The company has built a robust and well-diversified lender base within 20 months of raising debt.
- Credit Saison India remains committed to creating a strong and robust franchise in India, focusing on the Consumer and SME sectors.
Details of Crisil Boosts Credit Saison India Rating to AAA:
Bangalore/ Mumbai, March 27, 2023: Credit Saison India (CS India) has been upgraded to a AAA/Stable rating by Crisil Ltd, which is the local unit of S&P Global Ratings. This comes after the company’s lending operations commenced 3.5 years ago.
The rating reflects the improvement in the credit profile of the parent company, Credit Saison Co Ltd, Japan, and the continued high strategic importance of the Indian entity. Furthermore, it highlights the strong commitment of the parent company to its Indian business, and the improvement in the standalone profile of Credit Saison India, supported by strong capitalisation metrics.
Credit Saison India has achieved growth by receiving continuous equity support from its parent, as well as building a robust and well-diversified lender base within 20 months of raising debt.
The company has strong debt relationships with 24 debt lenders, including many foreign and Indian banks, such as State Bank of India, Axis Bank, Bank of Baroda, Punjab National Bank, Canara Bank, Mizuho, SMBC, and MUFG.
Presha Paragash, the CEO & Full-time Director of Credit Saison India, stated that the rating action by CRISIL reaffirms the strong parentage and support of the parent company to Credit Saison India. The company remains committed to creating a strong and robust franchise in India, focusing on the Consumer and SME sectors.
Since its inception, Credit Saison India has disbursed over a million loans and currently has an AUM size of almost ₹6,000 crore. The company is on track to hit an AUM of $1 billion over the next few months.
Recently, Credit Saison India announced the capital infusion of ₹540 crore from Saison International, the Global Business Division of Credit Saison Co, bringing the total infusion to ₹1,600 crore to date.
About Credit Saison India:
Kisetsu Saison Finance India Private Limited, operating under the brand name Credit Saison India (CS India), was founded in 2018 as a subsidiary of Credit Saison Co. Ltd in Japan.
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