• search

ICRA assigns LAAA rating to HDFC's Rs 15000 cr borrowing prog

Written by: Staff
Subscribe to Oneindia News

New Delhi, Mar 31 (UNI) Credit rating agency ICRA has assigned an LAAA rating with stable outlook to the Rs 15000 crore borrowing programme for 2006-07, of the Housing Development Finance Corporation Ltd (HDFC).

HDFC has an issuer rating of IrAAA from ICRA. It also has an outstanding ICRA rating of LAAA with stable outlook for long-term debt including subordinated bonds, MAAA rating for the fixed deposit programme of HDFC and A1+ rating for the short-term debt programme of HDFC.

The ratings are the highest-credit-quality ratings assigned by ICRA and the rated instruments carry the lowest credit risk. The ratings reflect HDFC's dominant market position in the housing finance (HF) industry, competitive operating cost structure, improving profitability despite intense competition, sound asset quality, well-diversified resource base and comfortable capitalisation levels.

UNI SS SR HT1650

For Breaking News from Oneindia
Get instant news updates throughout the day.

X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more