ICRA has assigned ‘AAA’ ratings with a stable outlook to the Rs 25,000 crore non-convertible debentures programme of Housing Development Finance Corporation (HDFC). ICRA has also withdrawn the ‘AAA’ rating assigned to the unutilized Rs 11,625 crore Non-Convertible Debenture programme of HDFC as the company has not raised funds against the rated instrument.
Further, the rating agency also withdrew ‘AAA’ rating assigned to the Rs 405 crore sub-ordinated debt programme of HDFC as the company has fully redeemed the instrument on maturity. There is no amount outstanding against these rated instruments.
HDFC is India’s premier housing finance entity in existence for over 35 years. With a presence in banking, insurance and asset management, the HDFC group is an important part of the Indian financial services.
