Aptus Value Housing Finance Achieves Rating Upgrade

Aptus Value Housing Finance announced a significant upgrade in its credit ratings on Monday. CARE has raised the company's rating for long-term bank facilities and non-convertible debentures from CARE AA- to CARE AA.

The improved rating, along with a revised positive outlook, underscores Aptus' consistent financial performance, robust asset quality, and solid capitalisation. The company indicated these factors significantly contribute to its financial stability.

Managing Director P Balaji highlighted the benefit of this upgrade, noting it will aid in diversifying borrowing avenues with insurance firms and mutual funds, alongside banks. This development is expected to facilitate more favorable negotiation conditions for both existing and future financial undertakings.

(With inputs from agencies.)