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Crisil upgrades LGF FD rating

CHENNAI: The Credit Rating and Information Services of India (Crisil) has upgraded the rating to the fixed deposit programme of Lakshmi General Finance (LGF) to FAA+ from FAA while it has reaffirmed the `P1+' rating to the Rs. 75 crore short-term debt programme. The rating upgrade was based on the steady improvement in LGF's overall asset quality indicators in the face of increasing competition in its core commercial vehicle and car financing business, according to a release. — Our Bureau

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