CARE Ratings Reaffirms Credit Rating of Aavas Financiers Limited, Revises Outlook to Positive
Aavas Financiers Limited, one of India’s leading affordable housing finance companies, announced that CARE Ratings Limited has reaffirmed its credit ratings while revising the outlook from ‘Stable’ to ‘Positive’.
Business Wire India
Aavas Financiers Limited, one of India’s leading affordable housing finance companies, announced that CARE Ratings Limited has reaffirmed its credit ratings while revising the outlook from ‘Stable’ to ‘Positive’. The reaffirmation covers the Company’s long-term bank facilities as well as its non-convertible debentures (NCDs), underscoring its strong credit profile and operational resilience.
This development reflects CARE Ratings’ confidence in Aavas’ consistent financial performance, prudent risk management, and healthy asset quality.
Credit Rating Details
|
Credit Rating Agency |
Instrument |
Rating Action |
Rating; Outlook |
|
CARE Ratings Limited |
INR 9,662/- crore – Long-Term Bank Facilities |
Reaffirmed; Outlook revised from Stable to Positive |
CARE AA; Positive (Double A; Outlook: Positive) |
|
INR 1,339.11 crore – Non-Convertible Debentures (reduced from INR 5/- crore) |
Reaffirmed; Outlook revised from Stable to Positive |
CARE AA; Positive (Double A; Outlook: Positive) |
The Positive outlook indicates the potential for an upgrade in the future, supported by Aavas’ steady growth trajectory, expanding customer base, and operational discipline.
Management Commentary
Commenting on the development, Mr. Sachinder Bhinder, MD & CEO of Aavas Financiers Limited, said: “We are pleased with CARE Ratings’ reaffirmation and the revision in outlook to Positive. This recognition reflects our continued commitment to financial prudence, strong governance, and customer-centricity. At Aavas, we remain focused on empowering underserved communities by providing affordable housing finance solutions that bring people closer to their dream of homeownership.”
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