Aptus Value Housing Finance gets rating upgrade from CARE

Aptus Value Housing Finance on Monday said CARE has upgraded the rating of the company's long-term bank facilities and non-convertible debentures (NCDs) by a notch.

The rating agency has improved rating to CARE AA from CARE AA-, Aptus Value Housing Finance said in a statement.

The outlook has been revised from stable to positive reflecting Aptus' consistent performance, strong asset quality, and robust capitalisation, it said.


Commenting on the rating upgrade, the housing finance company MD P Balaji, "This 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."