Credit rating agency, CARE has assigned ‘AAA’ rating to LIC Housing Finance’s Non Convertible Debentures (NCD) issue worth Rs 28,000 crore enhanced from Rs 18,000 crore.
The ratings factor in the strong parentage with Life Insurance Corporation of India (LIC), country’s largest life insurer, holding 40.31% stake in the company as well as LIC’s demonstrated financial, managerial, operational and marketing support.
LIC holds 40.31% stake in LIC Housing Finance while, institutional investors, both foreign and domestic together, are holding 41.47% shares, others hold 18.22% shares.
