Sammaan Capital Rating Upgrade: Sammaan Capital Limited has said that the credit rating agency CRISIL has upgraded its credit rating. In a media release, Sammaan Capital said that CRISIL, which is a company of S&P Global, has rated its long-term debt programme as AA+/Stable.

The development has come following the consummation of the preferential issue and acquisition of a controlling stake by International Holding Company (IHC) (through its owned and controlled company, Avenir Investment RSC Ltd). It has now become the promoter of Sammaan Capital.

In upgrading the credit rating of Sammaan Capital Limited, (now) an IHC Group company, CRISIL cited:

Strategic importance to, strong support from, and brand linkage with the IHC Group Sustained strong capitalisation Robust buffers and pivot to growth

"We are pleased to inform that this is the first such rating upgrade by a domestic rating agency since 2017, reflecting the positive impact of the strategic investment by IHC and the resulting strengthening of the Company’s capital position and financial profile," Sammaan Capital said.

"The upgrade reflects, inter alia, the positive impact of the strategic investment by IHC and the consequent strengthening of the Company’s capital position and overall financial profile," Sammaan Capital added.