CIFCL

AcronymDefinition
CIFCLCholamandalam Investment and Finance Company Ltd. (India)
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References in periodicals archive ?
Due to effective credit management and collections, CIFCL's overall Gross Non-Performing Assets (GNPA) has reduced to 2.94% in FY 2017-18 from 4.66% in the previous year.
Furthermore, CIFCL is supported by its parent, Murugappa Group, the rater said.
Loan-by-loan data provided by CIFCL as at 31 October 2017
Our proven expertise in handling a range of clientele from various industries has primed our team of dedicated professionals to provide quality services to CIFCL. We look forward to this partnership and are positive that our association with Cholamandalam will further enhance our objective and goals".
The rating and Outlook reflect adequate external credit enhancement (CE) of 10.5% of the initial principal balance, and CIFCL's origination practices, servicing experience and expertise in collection and recovery of commercial-vehicle loans in India.
At closing, CIFCL assigned commercial-vehicle loans to the issuer, which in turn will issue the PTCs.
Fitch conducted a file review of 20 sample loan files focusing on the underwriting procedures conducted by CIFCL compared to CIFCL's credit policy at the time of underwriting.
The rating and Outlook reflect adequate external credit enhancement (CE) of 14.0% of the initial principal balance, and CIFCL's origination practices, servicing experience and expertise in collection and recovery of commercial-vehicle and tractor loans in India.