Fusion Finance Limited — Credit Ratings, 17-12-2025: Credit Rating- New

CARE Ratings assigned 'CARE A (RWN)' to Fusion Finance's ₹150 Cr NCDs and reaffirmed the same rating for ₹1,500 Cr long-term bank facilities, keeping them on Rating Watch with Negative Implications. This outlook stems from covenant breaches on ₹2,077 Cr borrowings. While waivers for ₹1,331 Cr are secured, the company maintains adequate liquidity despite the pending waivers.