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 ₹2,100 crore.
Non-Convertible Debentures totalling ₹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".

Shares of Aptus Value Housing Finance India Ltd was last trading in BSE at Rs. 318.60 as compared to the previous close of Rs. 320.60. The total number of shares traded during the day was 15711 in over 575 trades.

The stock hit an intraday high of Rs. 321.15 and intraday low of 317.00. The net turnover during the day was Rs. 5006209.00.

Source : Equity Bulls

Keywords

AptusValueHousingFinanceIndia RatingUpdate Upgrade CARE