Credit rating agency, CARE has reaffirmed ‘AAA’ rating to Housing Development Finance Corporation’s long term bank facilities worth Rs 12,437 crore and ‘A1+’ rating to company’s Short term Bank Facilities worth Rs 11,375 crore. The ratings factor in the market leadership of Housing Development Finance Corporation (HDFC) in the housing finance industry, long-standing track record of operations, adequate capitalisation levels & strong resource raising ability, low operating costs, technology efficiency and good asset quality.
The ratings also consider HDFC’s vast marketing as well as distribution network and its ability to raise resources. HDFC’s ability to maintain spreads in a competitive environment and support its subsidiaries would be the key rating sensitivities.
With over three decades of successful operations, 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.
