PNB Housing Finance (PNBHF) has received rating downgrade from India Ratings and Research (Ind-Ra) for its non-convertible debentures (NCDs). The rating agency has downgraded PNBHF's NCDs rating to ‘AA’ from ‘AA-plus’ with a stable outlook.
The downgrade reflects challenging operating environment for majority of non-banks in the mid-to-higher ticket size housing loan segment, increasing pressure on asset quality and higher leverage in view of the portfolio composition.
PNB Housing Finance is a registered housing finance company with National Housing Bank (NHB). They provide housing loans to individuals and corporate bodies for construction, purchase, repair and up-gradation of houses.
