Global Trade Finance Private Limited (GTF) has obtained ‘P1+’ rating from CRISIL for Rs. 500 million Commercial Paper Programme.
GTF is 40% owned by WestLB (rated ‘AA+’ by Standard and Poor) and 35% by EXIM Bank (rated ‘AAA’ by CRISIL and ICRA). The balance 25% equity is held by International Finance Corporation (IFC), Washington, the private financing arm of the World Bank.
The assigned rating of GTF takes into account its above strong parentage and the support that the company enjoys from its largest shareholder, Westdeutsche Landesbank Girozentrale (WestLB) in terms of risk management, systems and, funding, as also the relatively low risk nature of the company’s business plans. The Export Import Bank of India (EXIM Bank) as the second largest shareholder also plays an important role in GTF’s business. GTF benefits from management support from both these institutions.
