Fitch affirms IIFL Finance's rating at 'B+'; outlook stable

Fitch sees sufficient headroom at the current rating to absorb further downside risk, says the ratings agency

Fitch Ratings has affirmed IIFL Finance Ltd's Long-Term Issuer Default Rating (IDR) at 'B+', easing downside risk to the company's credit profile due to less adverse economic and funding conditions. 

The ratings agency also removed the rating from Rating Watch Negative (RWN). The outlook is stable. The ratings were placed on RWN in March 2020 and maintained on RWN at the last review in September 2020.

"India's economic recovery remains uneven, with lingering uncertainty around the path of the coronavirus pandemic. We expect reported asset quality metrics to deteriorate further as regulatory loan forbearance and economic support measures taper off. This includes