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Press Release - Triodos & Crisil

GRAMEEN KOOTA RECEIVES Rs.50 Cr NCDs (Non-Convertible Debentures) FROM TRIODOS INVESTMENT MANAGEMENT, NETHERLANDS AND ALSO GETS UPGRADED TO mfR2 BY CRISIL RATING

27th November 2013

Grameen Financial Services Private Limited (GFSPL) widely known as Grameen Koota, has procured Rs.50 Cr through rated, secured, transferable, redeemable, listed non-convertible debentures (NCDs) from Triodos Fair Share Fund and Triodos Microfinance funds managed by Triodos Investment Management.

As of 27th November 2013, Grameen Koota’s total NCD outstanding comes to about Rs.131.90 Cr.

Also, Grameen Koota has been upgraded to mfR2 as per the rating by CRISIL Limited, on a scale of 1 (highest) to 8 (lowest) based on the organization’s overall performance. Grameen Koota is now one of the few MFIs in India to have this grade. This Microfinance (mfR) grading by CRISIL is a current opinion on the ability of an MFI to conduct its operations in a scalable and sustainable manner, which is one of the major parameters sought by investors while making an investment decision.

“We are happy to receive the NCD funding from Triodos at the same time when CRISIL upgrades our rating to mfR2. The funding from Triodos & rating upgrade from CRISIL will enable us to further our goal of supporting women micro entrepreneurs from rural areas with microfinance services,” says Suresh Krishna, Managing Director of GFSPL.

Speaking on the NCD, Femke Bos, regional manager Asia and Eastern Europe “Grameen Koota fits our ambition to be an involved player in India’s growing microfinance sector, which we believe is an important medium to promote rural entrepreneurship and women empowerment in India. Grameen Koota has demonstrated its commitment to create and groom women entrepreneurs while staying true to their social mission through the trials and tribulations in the Indian microfinance sector and have emerged as a strong regional brand. We look forward to strengthening our relationship with Grameen Koota and to increase our impact in India.”

About Grameen Financial Services Private Limited:

Grameen Financial Services Private Limited (GFSPL), popularly known as Grameen Koota (GK), is a Microfinance Institution which serves around 4.30 Lakh members with the support from 1350 employees working in 161 branches spread across Karnataka, Maharashtra and Tamil Nadu. As of 31st October 2013, the portfolio outstanding of Grameen Koota stood at Rs 51,118 Lakhs. Grameen Koota, one of the 6 financial institutions in world and one of the 3 MFI’s in India to have been honoured by Smart Campaign for having met all the client protection principles, has over 14 years of micro-lending experience in working with Joint Liability Groups formed exclusively of women belonging to poor and low income households by providing them with its diverse financial and developmental services that caters to life-cycle needs which includes products for Income Generation and access to Water, Sanitation, Education, Health Care, Energy Efficient Cook Stove etc.

For more information, visit www.gfspl.in

About Triodos Investment Management:

Triodos Investment Management is a 100% subsidiary of Triodos Bank, one of the world’s leading sustainable banks. Triodos Investment Management is a globally recognised leader in impact investing, managing direct investments ranging from sustainable energy infrastructure to microfinance institutions. Since 1994, its assets under management in inclusive finance have increased to over EUR 500 million, making it one of the leading investors in the industry. Through specialised funds it currently provides finance – both debt and equity - to 104 upcoming and well-established microfinance institutions and banks in 44 countries.

About CRISIL Limited:

CRISIL is a global analytical company providing ratings, research, and risk and policy advisory services.  They are India's leading ratings agency and also the foremost provider of high-end research to the world's largest banks and leading corporations. With sustainable competitive advantage arising from their strong brand, unmatched credibility, market leadership across businesses, and large customer base, they deliver analysis, opinions, and solutions that make markets function better. Their defining trait is their ability to convert data and information into expert judgements and forecasts across a wide range of domains, with deep expertise and complete objectivity.

CRISIL's majority shareholder is Standard and Poor's (S&P). Standard & Poor's, a part of McGraw Hill Financial (formerly The McGraw-Hill Companies) (NYSE:MHFI), is the world's foremost provider of credit ratings.

For Further Details on the news please contact,
Ms. Rashmi Kulkarni, Deputy Communications Manager, GFSPL - 8884055500

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