The Hindu Business Line : ICRA assigns highest credit risk rating to HDFC savings plan

ICRA has assigned a credit risk rating of `mfA1+' to HDFC Cash Management Fund - Savings Plan. The rating denotes highest credit quality short-term rating assigned by the agency to debt funds.

The scale, an ICRA press note states, applies to funds with weighted average maturity up to one year. The rated fund "carries the lowest credit risk, similar to that associated with short-term debt obligations rated in the highest-credit-quality category," the agency has mentioned.

The rating should not be construed as an indication of the scheme's future performance or of the volatility in returns. HDFC Cash Management Fund - Savings Plan has Rs 2,870 crore under management as on September 30.

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