CRISIL assigned a ‘P1+’ rating to the Rs 100 million bank guarantees and Rs 5 million short-term loan facility of ECAL Advisors.

The ratings reflect CRISIL’s expectation that the significantly enhanced net worth of the Edelweiss group, to which ECAL belongs, will offset the group`s business risks.

CRISIL has viewed the mutual financial and business risk reports of all the companies in the Edelweiss group, which includes ECAL, to arrive at the rating, which is driven by Edelweiss group’s strong capital position, modest gearing plan, sufficient earnings profile, and strong liquidity.

These rating powers are, however, partly offset by uncertainties in the group’s equity broking business and dangers underlying to the group’s planned ventures.

Shares of the company, on Friday (May 23), declined Rs 22.8 to settle at Rs 285.3 on the Bombay Stock Exchange (BSE). The total volume of shares traded was 22,242.