Aavas Financiers Limited announced the reaffirmation of its credit ratings by CARE Ratings Limited (now CareEdge). The Long Term Bank facilities, enhanced to ₹12,262.00 crore, retain a CARE AA; Positive rating. Similarly, the rating for Non-Convertible Debentures (NCDs) was reaffirmed at CARE AA; Positive. The company disclosed the rating action occurred on March 26, 2026, reflecting confidence in its operational and financial performance for FY25 (Audited) and 9MFY26 (un-audited).
Credit Rating Reaffirmation Announcement
Aavas Financiers Limited has formally intimated the stock exchanges regarding the reaffirmation of its credit ratings by CARE Ratings Limited (operating as CareEdge Ratings). The intimation was dated March 27, 2026, following the rating committee’s decision on March 26, 2026, at 06:47 P.M.
Key Rating Details
The rating assessment was based on the company’s performance in FY25 (Audited) and the nine months ended December 31, 2025 (9MFY26, un-audited). The rating actions confirm the strong credit profile of the company:
- Long Term Bank Facilities (Enhanced to ₹12,262.00 crore from ₹11,762.00 crore): Rating reaffirmed at CARE AA; Positive (Double A; Outlook: Positive).
- Non-Convertible Debentures (NCDs) (Reduced to ₹1274.92 crore from ₹1339.11 crore): Rating reaffirmed at CARE AA; Positive (Double A; Outlook: Positive).
Details of Rated Facilities
The total rated Long Term Facilities amount to ₹12,262.00 crore, comprising Term Loans of ₹12,132.00 crore and Fund Based Limits of ₹130.00 crore. Key lenders for the Term Loans include the State Bank of India (₹3,132.89 crore) and Punjab National Bank (₹2,630.86 crore).
Details of Rated NCDs
The rating covers outstanding Non-Convertible Debentures totaling ₹1274.92 crore across several issuances. One of the instruments detailed shows an outstanding amount of ₹170.92 crore as of February 28, 2026, maturing on November 26, 2028, with a Rate of Interest (ROI) of 8.49%. A proposed NCD tranche of ₹400.00 crore was also considered in the review for NCDs.
Rating Review Process and Next Steps
CARE Ratings Limited has enclosed the rating letter and a draft press release (Annexure 2) for Aavas Financiers Limited’s review. The company was requested to revert with any comments regarding factual inaccuracies by March 31, 2026, after which the rating communication would be finalized and publicized. The rating agency retains the right to conduct periodic surveillance reviews annually.
Source: BSE
