Credit rating agency, ICRA has assigned ‘AAA (stable)’ rating to Gruh Finance’s Rs 835 crore long-term debt programme. ICRA has a rating outstanding of ‘AAA’ for the Rs 3,112 crore long-term debt and Rs 35 crore subordinated debt programme of the company.
The rating agency also has ratings outstanding of ‘A1+’ for the Rs 5,500 crore short term debt programme and of ‘MAAA’ for the fixed deposits programme of the company. The outlook on the long-term and medium-term ratings is stable.
Gruh Finance is primarily engaged in the business of providing long term finance to individuals for construction, purchase, extension, repair and renovation of their homes. It also provides loans to professionals for office premises.
