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Fibe Financial Gains Major Credit Upgrades
21 Nov
Summary
- Fibe's credit ratings were upgraded by two major agencies.
- India Ratings improved Fibe's long-term rating to A-.
- Acuite Ratings assigned Fibe its first 'A' rating.
Fibe, a prominent financial services company, has recently secured substantial upgrades in its credit ratings from two leading agencies. These positive developments underscore the company's strong financial health and effective operational frameworks. The improvements highlight Fibe's robust underwriting capabilities and its sophisticated risk management strategies.
India Ratings upgraded Fibe's long-term rating to A- with a positive outlook, marking a significant increase from its previous BBB+ rating. Concurrently, CARE Ratings elevated the company's short-term rating from A2 (Stable) to A2+. These revisions acknowledge Fibe's enhanced liquidity, broadened funding avenues, and consistent history of timely debt repayment.
Furthermore, Acuite Ratings & Research has awarded Fibe its initial long-term rating of 'A' with a stable outlook. Fibe, focused on digital-first consumer lending, aims to serve young, tech-savvy Indians and has already reached over 37 lakh customers in 930 cities.
