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Rating agency ICRA on Thursday upgraded the outlook for infrastructure finance companies (NBFC-IFC) from “stable” to “positive” as investments and asset quality in the sector improved.
The revised industry outlook reflects expectation that the enhanced performance witnessed in FY23 will continue in FT24. This is in backdrop of improved solvency profile, loan book growth in the near term and better asset quality and earnings profile, said ICRA in a statement.
NBFC-IFCs books are expected to grow 10-12 per cent in FY24, supported by government investments in infrastructure to revive economic activity. Given the internal capital generation, the need for external
