Home First Finance Company Limited Achieves Credit Rating Upgrade to [ICRA] AA (Stable)

2025-05-29 05:51:09 pm | Source: PR Agency

Home First Finance Company Limited Achieves Credit Rating Upgrade to [ICRA] AA (Stable)

News By Tags | #Industry #HomeFirstFinanceCompanyLtd

Home First Finance Company India Limited is pleased to announce that ICRA Limited has upgraded its long-term credit rating to [ICRA] AA (Stable) from [ICRA] AA- (Stable). The upgrade reflects the company’s robust financial performance, stable asset quality, comfortable earnings profile, and strengthened capitalization, which are expected to support its medium-term growth plans. The aggregate rated amount across all instruments now stands at ?5,961 crores, reflecting increased confidence from rating agencies and lenders.

Key Details of the Rating Upgrade:

Enhanced Credit Profile:
- The long-term rating upgrade reflects HomeFirst’s improved capitalization, stable asset quality, and sustainable earnings.
- The reaffirmation of the short-term commercial paper rating at [ICRA] A1+ highlights the company’s robust liquidity position.
Instrument-wise Rating Actions:
- Long-Term Fund-Based Facilities: Upgraded to [ICRA] AA (Stable) with an enhanced limit of ?5,300 crores (previously ?4,500 crores).
- Non-Convertible Debentures (NCDs): Upgraded to [ICRA] AA (Stable) for ?561 crores.
- Commercial Paper Programme: Reaffirmed at [ICRA] A1+ for ?100 crores.

Commenting on the Credit Rating upgrade, Mr. Manoj Viswanathan, MD & CEO said: “The credit rating upgrade to AA (Stable) by ICRA Limited is a testimony of HomeFirst’s commitment to excellence in the Housing Finance industry. Our differentiated business model with high productivity supported by enhanced usage of technology, diversified funding and strong risk management practices have enabled us to deliver best in class growth and sustained profitability. Our goal is to establish HomeFirst as a leading brand in the affordable home finance sector, known for its transparency, speed, and customer service. We remain enthusiastic and committed to the multi-decadal opportunity that is unfolding in the housing finance sector.”

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Home First Finance Company Limited Achieves Credit Rating Upgrade to [ICRA] AA (Stable)

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