Microfinance Focus, October 19, 2011: Rating agency CRISIL has revised the rating outlook for Rs, 500 million Non Convertible Debentures (NCDs) issued by Equitas Micro Finance India Pvt. Ltd. from ‘Stable’ to ‘Positive’ while reaffirming the rating of BBB-.

Equitas had issued the NCDs in June 2011 which is listed in debt segment of Bombay Stock Exchange. CRISIL has also revised the outlook for the bank loan facilities of Equitas from ‘Stable’ to ‘Positive’ and reaffirmed the rating of BBB-.

Equitas was recently rated by CRISIL under Corporate Governance rating and it received a Level 3 rating (on a scale of 1 to 8, 1 being best).  It is the only eight corporate and the first microfinance institution to have got this rating.

Currently operating in 7 states, Equitas is serving more than 1.3 million clients and had cumulative disbursements of Rs.2, 116 Crore as on 30th September 2011.

The NBFC reported a profit after tax (PAT) of Rs.30 Crore on a total income Rs.238 Crore for 2010-11 against a PAT of Rs.23 Crore on a total income of Rs.124 Crore for the previous year.