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CRISIL removes IIFL Finance from ‘Rating Watch’, reaffirms long-term rating as RBI lifts embargo on gold loan business | Mint

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- Credit rating agency CRISIL removed IIFL Finance from its 'Rating Watch with Developing Implications' list. - IIFL Finance's long-term ratings were reaffirmed at 'CRISIL AA/CRISIL AA-/CRISIL PPMLD AA' with a 'Stable' outlook. - The company's short-term rating was also reaffirmed at 'CRISIL A1+'. - CRISIL stated that IIFL Finance has a strong track record in the gold loan business and is expected to regain market share and profitability after the regulatory embargo was lifted. - The ratings are supported by the group's strong capital position, operational track record, and stable profitability, although challenges remain in terms of the resource profile and higher cost of funds compared to competitors. - IIFL Finance's President and Group CFO, Kapish Jain, sees the rating as validation of the company's sound business model and governance standards.