Intimation of Credit Rating reaffirmed/ assigned for Commercial paper by ICRA Limited.
Awaiting price reaction for this filing.
Aavas Financiers has received an [ICRA]A1+ credit rating from ICRA Limited for its Commercial Paper (CP) program. The rating has been reaffirmed for the existing limit and assigned for an enhanced amount. The total CP facility size has been increased significantly from Rs. 50 crore to Rs. 250 crore, a five-fold expansion. A1+ is the highest short-term rating on ICRA's scale, indicating the highest safety for short-term debt obligations. The company is a housing finance company (HFC) listed on both NSE and BSE.
This is a positive development for shareholders — the highest short-term credit rating (A1+) is retained and the company's short-term borrowing capacity is expanded five times, signaling strong confidence in Aavas's credit quality and giving it greater flexibility to raise short-term funds at competitive rates.