Ind-Ra affirms Aavas Financiers’ short-term debt at ‘A1+’; Stock jumps 2%

The rating continues to reflect Aavas’ healthy credit profile, driven by an established competitive franchise.

Jun 21, 2021 01:06 IST India Infoline News Service

India Ratings and Research (Ind-Ra) has affirmed Aavas Financiers Limited’s Short-Term debt at ‘IND A1+’.

The rating continues to reflect Aavas’ healthy credit profile, driven by an established competitive franchise in the retail affordable housing space in its key operating geographies.

Furthermore, the entity has well-diversified funding, adequate liquidity, sizeable capital base and strong risk management. Even though fairly high growth has resulted in a loan book with significant share of recent originations, Aavas’ focus on individual loans and avoiding builder-led disbursements provides comfort.

At around 1:08 PM, Aavas Financiers was trading at Rs2,570.35 apiece up by Rs51.95 or 2.06% from its previous closing of Rs2,518.40 apiece on the BSE.

Related Story

Open Free Demat Account (Rs699)