ICRA assigns highest-credit rating to HSBC MF schemes

Credit rating agency ICRA today said it has reaffirmed its highest-credit-quality rating to HSBC Mututal Fund's cash plus and liquid plus schemes.

The 'mfA1+' rating applies to debt funds with weighted average maturity up to one year, ICRA said in a statement.

It said the rated fund carries the lowest credit risk, similar to that associated with short-term debt obligations rated in the highest credit quality category.

ICRA also reaffirmed mfAAA rating to HSBCs short term plan, floating rate fund and long-term plan, indicating highest-credit-quality, it added.

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