New Delhi, Feb 26 (KNN) The listed MSME lending fintech platform, U GRO Capital has received A+ for its long term rating (stable) and A1+ for its short term rating from Acuite Ratings and Research.

The ratings upgrade reflects improvement in its business and financial risk profile on the back of strong equity support by institutional investors, experienced management team, growth in AUM, good asset quality and improved operating metrics.

The upgrade in rating takes into consideration sustained and calibrated growth in AUM with diversified (product and geography) asset mix and continued focus to expand across all channels.

The rating also factors in the high capitalization levels and low gearing levels.

The company has entered into co-lending partnerships with multiple public sector banks like State Bank of India, Bank of Baroda, Central Bank of India, IDBI Bank, which will further improve liquidity and support the growth.

On the rating upgrade, Shachindra Nath, Executive Chairman and Managing Director, said “It gives us immense pleasure to have received a rating upgrade from Acuite. This only motivates us to continue our momentum in our bid to build the country’s leading lending as a service (LaaS) platform, thus providing immense value to all our stakeholders.”  (KNN Bureau)