Fitch affirms Grama Vidiyal

Fitch Ratings said it affirmed Grama Vidiyal Microfinance Ltd.'s Rs. 1 billion non-convertible debentures' national short-term rating at F2+(ind).

The rating reflects the company's strong presence in the south Indian state of Tamil Nadu, high profitability and historically low portfolio at-risk, Fitch said.

The agency said it remains concerned about the uncertainty regarding the regulatory environment for microfinance institutions.

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