LIC Housing Finance receives credit ratings for its NCD's

LIC Housing Finance has received credit ratings for its Non-Convertible Debentures (NCDs) following a review by the Rating Committee, taking into account the company's operational and financial performance for FY23 (Audited) and Q1FY24 (Provisional). Here's an overview of the ratings:

1. Non-Convertible Bonds (Amount: ₹2,53,441 crores):

Rated CARE AAA; Stable (Triple A; Outlook: Stable) - This rating has been reaffirmed, reflecting the company's strong creditworthiness and stability.

2. Non-Convertible Bonds (Amount: ₹40,000 crores):

Rated CARE AAA; Stable (Triple A; Outlook: Stable) - This rating has been newly assigned, signifying a high level of confidence in the company's financial strength and stability.

3. Tier II Bonds (Amount: ₹3,000 crores): 

Rated CARE AAA; Stable (Triple A; Outlook: Stable) - This rating has been reaffirmed, indicating continued stability and reliability.

4. Upper Tier II (Amount: ₹1,500 crores): 

Rated CARE AAA; Stable (Triple A; Outlook: Stable) - This rating has been reaffirmed, reinforcing the company's robust financial position.

5. Lower Tier II (Amount: ₹750 crores): 

Rated CARE AAA; Stable (Triple A; Outlook: Stable) - This rating has been reaffirmed, underlining the company's consistent credit quality.

In total, these instruments amount to ₹2,98,691 crores (approximately ₹2.98 lakh crores), showcasing the company's substantial presence in the financial market.