Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to HDFC’s long-term bank facilities worth Rs 8058.31 crore. The rating agency has also reaffirmed ‘A1+’ rating to the company’s short-term bank facilities worth Rs 10,586.47 crore. The ratings factor in the market leadership of 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 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.
