CARE reaffirms rating of HDFC’s bank facilities

Credit rating agency CARE has reaffirmed AAA rating to HDFC’s long term bank facilities worth Rs 12984.50 crore. The rating agency has also reaffirmed A1+ rating to the company’s short term bank facilities worth Rs 21297.10 crore.

The company has received the said reaffirmation on the back of its market leadership in the housing finance industry, long-standing track record of operations, adequate capitalisation levels, low operating costs, technology efficiency and good asset quality.

HDFC offers a whole gamut of products like home loans, home improvement loans, home extension loans, home equity loans, etc. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services, etc.