Indiabulls Housing Finance announced that CARE has revised the long-term rating of Indiabulls Housing Finance [IBH] from 'CARE AAA' to 'CARE AA+', Perpetual Debt Programme from 'CARE AA+' to 'CARE AA', and reaffirmed short-term rating at 'CARE A1+'.
The main reasons for the revision in rating are as below:
h - Progress in process of merger with Lakshmi Vilas Bank and the potential transition challenges
thereof
h - Challenging funding environment for NBFCs and HFCs
h - Moderation in asset quality
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