ICRA assigns A1+ rating to Rs 750 cr CP prog of ICICI Home

New Delhi, July 13 (UNI) Credit rating agency ICRA today assigned A1+ rating to the Rs 750 crore Commercial Paper (CP) Programme of ICICI Home Finance Company Ltd (ICICI Home).

The rating indicates highest-credit-quality rating assigned by ICRA to short-term debt instruments.

ICICI Home's strong parentage, its role of the in-house outsourcing agent for the ICICI Bank group, besides its access to committed lines of credit from banks have been taken into account while assigning the rating.

The rating also takes into account the company's favourable asset quality indicators and a low profitability on account of the current business model wherein it sources and services ICICI Bank's home loans and purchases mortgage portfolios.

UNI DKS CS VV1758