Credit rating agency, CARE has reaffirmed ‘AAA’ rating to HDFC’s long term bank facilities worth Rs 5,755 crore, which was reduced from Rs 7,751 crore and ‘A1+’ rating to company’s Short term Bank Facilities worth Rs 16,382 crore, which was reduced from Rs 23,122 crore.
The company has received the rating on the back of its vast marketing as well as distribution network and its ability to raise resources. The company’s ability to maintain spreads in a competitive environment and support its subsidiaries would be the key rating sensitivities.
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.
