CARE Ratings has reaffirmed its ‘CARE AAA; Stable’ credit rating for Can Fin Homes’ long-term bank facilities and debt instruments. The rating affirmation reflects Can Fin Homes’ strong parentage, with Canara Bank as a key shareholder, its robust financial flexibility, and healthy asset quality. The outlook is stable, indicating consistent financial performance and operational efficiency.
Credit Ratings Reaffirmed
Can Fin Homes has received reaffirmation of its credit ratings from CARE Ratings for various financial instruments. The long-term bank facilities, including Non-Convertible Debentures and Tier II bonds, continue to hold a ‘CARE AAA; Stable’ rating. This rating is effective as of October 9, 2025.
Key Rating Drivers
The ratings are underpinned by Can Fin Homes’ connection to Canara Bank, which provides strategic direction and a shared brand franchise. The company’s ability to raise funds from diverse sources at competitive rates also supports the rating. The company exhibits strong financial performance, stable profitability, and adequate capitalisation.
Rated Facilities Details
The facilities that have had their ratings reaffirmed include:
- Long-term bank facilities: ₹10,000.00 crore
- Non-convertible debentures: ₹10,000.00 crore
- Non-convertible debentures: ₹1,375.00 crore
- Non-convertible debentures: ₹2,500.00 crore
- Non-convertible debentures: ₹3,000.00 crore
- Tier II bonds: ₹300.00 crore
- Commercial paper: ₹4,500.00 crore (rated CARE A1+)
Rating Sensitivities
The rating is sensitive to changes in the credit profile of Canara Bank, any alteration in Canara Bank’s approach towards Can Fin Homes, or an increase in gearing beyond 10x levels. A weakening of asset quality would also negatively impact the rating.
Outlook
The outlook is considered ‘Stable’, reflecting the expectation that Canara Bank will continue its support and that Can Fin Homes will maintain comfortable asset quality and a healthy financial profile.
Source: BSE
