Credit rating reaffirmed at IVR D, removed from Issuer Not Cooperating
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Infomerics has reaffirmed India Home Loan's ratings at IVR D (lowest grade indicating default risk) for both bank loan facilities of Rs. 39.92 crore and NCDs of Rs. 16.95 crore. The ratings were also removed from the Issuer Not Cooperating category. Several bank loans have been fully repaid with No Due Certificates from Bank of Maharashtra, IDFC First Bank, MAS Financial, SBI and UCO Bank. Active lenders remain Andhra Bank, Canara Bank, Hinduja Housing Finance and IDFC First Bank.
IVR D is the lowest credit grade, signalling severe default risk and weak financial health, which is negative for shareholders despite some loan closures.