CRISIL reaffirms ‘A1+’ rating to short term debt programme of DHFCL

Credit rating agency, CRISIL has reaffirmed the assigned ‘A1+’ rating for the short term programme of Dewan Housing Finance Corporation (DHFCL) including commercial paper amounting Rs 1,500 crore. The instrument with this rating are considered to have very strong degree of safety regarding timely payment of the financial obligations.

Dewan Housing Finance Corporation was incorporated in 1984. With more than two decades of experience, DHFCL is among the oldest private sector Housing Finance Companies (HFC) in India. It is the fourth-largest HFC with total asset size of around Rs 16,674 crore as on March 31, 2011. It has a strong presence across India through its 72 branches and 116 service locations. DHFCL caters to a large section of Indians working in the Middle East through its overseas branch in Dubai.