Infomerics Valuation and Rating has upgraded the credit ratings of Paisalo Digital with a stable outlook. The credit rating agency has assigned an 'IVR AA-' rating on the company's long term fund based facilities and non-convertible debentures.

"Instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk," the rating agency said.

Paisalo Digital is planning to raise funds through issuance of Unlisted, Unsecured, Unrated Non-Convertible Debentures (NCDs) on Private Placement Basis. The meeting of Operations and Finance Committee of the Board of Directors of the company is scheduled to be held on Aug. 31, 2021 to consider the same.

Shares of the company declined Rs 14.75, or 2.52%, to settle  at  Rs 571.65.  The total volume of shares traded  was 1999 at  the BSE (Thursday).