Home   >>    Loan   >>    Personal Loan   >>     Overview
Get Personal Loan Offers
A maximum of 5 providers will compete to give you the best rates (Oct 2020)











I authorize the website and its partner providers to call or SMS me in connection with my application & agree to the Privacy Policy and Terms of use

Crisil downgrades ICICI Bank's loan pool

Crisil has downgraded ICICI Bank's loan pool from AAA to AA

Apnaloan.com Research Bureau

23 Apr 2008

Crisil has downgraded ICICI Bank's securitised car and personal loan pool worth over Rs. 203 crore from AAA (so) to AA (so) due to rising defaults on payments by borrowers.

The delinquency levels for the loan pool in the 12 months since securitisation have been higher than expected, with collections significantly below expectations.

This has led to the rating revision for Pass Through Certificates (PTCs) series A13 (Rs. 105.73 crore) and A14 (Rs. 98.2 crore).

As reported by Business Standard, according to Prasad Koparkar, head of structured finance rating with Crisil, there is no default on payment to PTC investors. There is enough credit enhancement cushion for payment to investors in securities.

The rise in default in personal loans and car loans extended by banking and financial entities is on expected lines and there is no panic. As banks move away from the saturated safe loan market, the default rate is set to go up, as they are wooing the relatively higher risk segment (self employed). But these loans also carry higher interest rates - reflecting risks and higher transaction costs.

For more information on Credit Card in India click here