IDFC Ltd has issued commercial papers (CPs) worth Rs 700 crore having maturity date of September 29, 2016.
These CPs have been rated as A1+ by Credit Rating Agency ICRA.
Commercial Papers: CPs are unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories and meeting short-term liabilities.
Instruments with the aforesaid rating are considered to have a strong degree of safety regarding timely payment of financial obligations and such instruments carry lowest credit risk.
