Credit Rating Agency, ICRA revised rating for the Rs 8,000-crore commercial paper (CP) programme of DHFL to A2+ from A1+.
The rating revision takes into account the moderation in the company’s financial flexibility owing to challenges faced in raising funds from traditional bank lines and debt market instruments, and the consequent impact on the company’s ability to generate fresh business.
DHFL is one of India’s premier housing finance companies and is among the oldest private sector Housing Finance Companies (HFC) in India. The company was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India.
