Revised intimation of Credit Rating upgradation from ''CARE AA+; Stable'' to ''CARE AAA; Stable'' by CARE Ratings Limited

CARE Ratings has upgraded PNB Housing Finance's long-term credit rating from CARE AA+ to CARE AAA (Stable outlook), the highest rating tier. This applies to bank facilities worth ₹32,000 crore, bonds of ₹2,500 crore, non-convertible debentures of ₹5,206 crore, fixed deposits of ₹25,000 crore, and Tier II bonds of ₹39.70 crore. Short-term ratings (CARE A1+) for commercial paper and working capital facilities were reaffirmed. The upgrade reflects strong support from promoter Punjab National Bank (rated AAA), PNBHFL's improved asset quality with GNPA falling to 0.93% from 8.1% four years ago, and its position as the third-largest housing finance company in India with AUM of ₹90,921 crore. CARE noted the company's shift to a predominantly retail loan book (99.5%) and healthy profitability with net profit of ₹2,291 crore in FY26.