MUMBAI, MARCH 31, 2021 (GPN):  This is with reference to the communication Indiabulls Housing Finance Limited [IBH] received from the rating agency CRISIL on March 31, 2021. The rating committee of CRISIL has upgraded the Company’s outlook to Stable from Negative.

The long-term credit rating of Indiabulls Housing Finance Ltd has been reaffirmed at “CRISIL AA”. The short- term credit rating has been reaffirmed at the highest rating of “CRISIL A1+”.

CRISIL noted the following in revising the rating outlook to stable:

−             Demonstrated fund raising

−             Comfortable asset quality in retail segments and lower than expected rise in NPA levels

−             Regularisation of collection efficiency to pre-COVID levels

−             Strong capitalisation with healthy cover for asset-side risks

−             Strong liquidity position. ENDS