We are excited to announce that IFMR Capital (presently known as Northern Arc Capital) just completed the first ever rated securitization of microloans in India. The principal amount of pass-through certificates equal to Rs. 157 million and was rated by CRISIL. The underlying loan portfolio comprises priority sector urban micro loans originated by Equitas with final maturity in October 2010. IFMR Capital structured and arranged the innovative securitisation transaction after a comprehensive analysis of Equitas and the loan portfolio, based on its underwriting guidelines.