Crisil upgrades Credit Saison India’s rating to AAA

The rating action reflects the improvement in the credit profile of the parent, Credit Saison Co Ltd, Japan (Credit Saison Group), continued high strategic importance of the Indian entity and the strong commitment of the parent company to its Indian business.

The ratings also factor in the improvement in the standalone profile of Credit Saison, India, supported by strong capitalisation metrics.

While the growth has been enabled by the continuous equity support from the parent, Credit Saison, India has also built a robust and well-diversified lender base within 20 months of raising debt.

The company holds 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, CEO & Full-time Director, Credit Saison, India, said, “The rating action by CRISIL, reaffirms the strong parentage and support of the parent company to Credit Saison, India. We remain committed in creating a strong and robust franchise in India focussing on the Consumer and SME sectors.”

Credit Saison, India has disbursed over a million loans since inception. The company currently has an AUM size of almost ₹6,000 crore and is on track to hit an AUM of $1 billion over the next few months.

The company recently announced the capital infusion of ₹540 crore from Saison International, the Global Business Division of Credit Saison Co which brings the total infusion to ₹1,600 crore to date.