Credit rating agency, CRISIL has assigned its ‘AAA/Stable’ rating to the Rs 25000 crore non-convertible debenture (NCD) issue and the Rs 2000 crore subordinated debt issue of Housing Development Finance Corporation (HDFC). The rating agency has also reaffirmed its ratings on HDFC’s other outstanding debt instruments and fixed deposit programme at ‘AAA/FAAA/Stable/ A1+’.
The ratings continue to reflect the company’s leading market position and sound track record in the housing finance business, strong asset quality, diversified and stable resource profile, and healthy capitalisation and profitability.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services. The company has a pan-India presence through 360 outlets (including 91 offices of its distribution subsidiary - HDFC Sales) as on June 30, 2014.
