CARE Ratings Upgrades Credit Rating of Aptus Value Housing Finance India Limited
Aptus Value Housing Finance India Limited, a leading housing finance company, announced that CARE Ratings Limited has upgraded the credit rating of the Company’s long-term bank facilities and Non-Convertible Debentures (NCDs) to CARE AA; Stable from CARE AA-; Positive.
Key Highlights:
* Upgraded Rating: CARE Ratings upgraded the long-term credit rating to CARE AA; Stable, reflecting Aptus’ consistent performance, strong asset quality, and robust capitalization.
* Facilities Covered:
* Long-Term Bank Facilities of Rs.2,100 crore.
* Non-Convertible Debentures totalling Rs.1,065 crore.
Commenting on the rating upgrade, Mr. P. Balaji, Managing Director said, “This credit rating upgrade will help us to further diversify our borrowings from Insurance Companies and Mutual Funds in addition to borrowings from banks and will also help us to negotiate better cost of funds both on our existing and incremental borrowings”
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