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Exchange Received Time  18/10/2019 20:44:44 Exchange Disseminated Time 18/10/2019 20:44:46 Time Taken 00:00:02 | This is with reference to the communication Indiabulls Housing Finance Limited [IBH] received from the rating agency CARE Ratings on October 18, 2019. The rating committee of CARE Ratings has reaffirmed Long-term rating at 'CARE AA+' and Perpetual Debt at 'CARE AA'. Short-term rating has been reaffirmed at 'CARE A1+'. The watch resolution of negative outlook follows the announcement of RBI not approving the merger of IBH with LVB. CARE noted the following in reaffirming the ratings and resolving the rating watch: IBH maintains liquidity of at least one year debt repayments as a policy. As on October 10, 2019, IBH maintained total liquidity of ~Rs.18,500 crore which covers next one year scheduled repayments CARE also noted the following in reaffirming the ratings: - Established track record as one of the largest HFCs - Comfortable Capitalization levels: the company reported Capital Adequacy [CAR] of 27.81% For further details, refer attachment. |
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