ICRA Limited has reaffirmed its [ICRA] AA rating for IIFL Finance’s Non-Convertible Debentures (NCDs), Subordinated Debt Programme, and Long-Term Bank Lines. The rating agency also reaffirmed the [ICRA]A1+ rating for Commercial Papers. However, the outlook has been revised from ‘Stable’ to ‘Negative’. ICRA has withdrawn ratings for certain facilities, including ELDs, MLDs, Long-Term Bank Lines, and NCDs totaling Rs. 8,143.44 crore. Ratings for IIFL Home Finance Limited were also reaffirmed with a revised outlook.
ICRA Rating Reaffirmation and Outlook Revision
On September 25, 2025, ICRA Limited (“ICRA”) reaffirmed the [ICRA] AA rating for IIFL Finance Limited’s Non-Convertible Debentures (“NCDs”), Subordinated Debt Programme, and Long-Term Bank Lines. Additionally, the [ICRA]A1+ rating for Commercial Papers was reaffirmed. However, ICRA revised the outlook of these ratings from ‘Stable’ to ‘Negative’.
Withdrawal of Ratings
ICRA has withdrawn its ratings from Equity Linked Debentures (“ELDs”) and Market Linked Debentures (“MLDs”). Furthermore, the credit rating agency has withdrawn ratings of Long-Term Bank Lines and NCDs aggregating to Rs. 3000 crore and Rs. 5,143.44 crore, respectively.
IIFL Home Finance Limited Ratings
ICRA also reaffirmed the ratings for IIFL Home Finance Limited (“HFC”), a material subsidiary, as [ICRA] AA for the Non-Convertible Debentures, Subordinated Debt Programme & Long Term Bank Lines, PP-MLD[ICRA]AA for LT- Market Linked Debentures and [ICRA]A1+ for Commercial Papers. The outlook on these ratings has also been revised from ‘Stable’ to ‘Negative’.
Accessing Ratings Information
The ratings by ICRA for IIFL Finance Limited and IIFL Home Finance Limited are available on ICRA’s website:
Source: BSE
