Mumbai, March 25 -- The agency has also affirmed the company's short-term rating at 'CARE A1+'.

CARE Rating stated that the Rating reaffirmations to various debt instruments of Poonawalla Fincorp Limited (PFL) continue to factor in the expectation of strong support from the Cyrus Poonawalla group, having a healthy financial flexibility, which is also reflected from the fact that PFL has been able to raise incremental funds at competitive rates in the debt market.

The ratings also factor in the changes in the senior management team including the appointment of Arvind Kapil as the MD & CEO of the company along with other seasoned professionals, and revised product strategy post the change in management.

The ratings continue to factor in ...