ICRA’s Rating Committee, an associate of Moody’s Investors Service, has upgraded the long term rating of Indiabulls Housing Finance (IBHFL) from ‘AA (Stable)’ to ‘AA+ (Stable)’, for the Non-Convertible Debentures (NCDs) Programme amounting to Rs 4,000 crore.
The rating upgrade reflects steady improvement in IBHFL’s operational and financial indicators over the past few years amidst tight control over asset quality indicators. The rating also factors in the comfortable capitalization as well as demonstrated ability to raise capital, well diversified resource profile and sound liquidity position with policy of maintaining adequate liquid funds in the company.
With this, the company enjoys a ‘AA+’ from three rating agencies and joins a group of select few HFCs and NBFCs to be rated ‘AA+’ by ICRA.
