Home First Finance Company India Limited has informed the Exchange about Credit Rating- Revision
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Awaiting price reaction for this filing.
India Ratings and Research has upgraded Home First Finance's long-term credit rating to IND AA/Stable from the earlier IND AA-/Positive. The upgrade covers long-term bank loans of Rs. 41 billion and non-convertible debentures of Rs. 4 billion. A new long-term bank loan facility of Rs. 8 billion was also assigned the same IND AA/Stable rating. The short-term commercial paper rating of IND A1+ has been reaffirmed, indicating strong short-term repayment capacity. An AA rating is a high safety grade, suggesting the company has very strong ability to meet its financial commitments.
This upgrade signals improved creditworthiness and financial health, which can lower future borrowing costs for the company and boost investor confidence. The shift from a Positive to Stable outlook indicates India Ratings views the current rating level as well-sustained, which is mildly positive but suggests no immediate further upgrade is expected.