Aavas Financiers' Credit Outlook Upgraded to Positive by CARE Ratings

Aavas Financiers Limited, a leading name in India's affordable housing finance sector, has received a reaffirmed credit rating from CARE Ratings Limited. The agency elevated the company's outlook from 'Stable' to 'Positive', highlighting Aavas' robust financial health and strategic growth in the housing finance market.

CARE Ratings' decision to adjust the outlook reflects confidence in Aavas' ongoing financial performance, diligent risk management, and sound asset quality. The company's long-term bank facilities and non-convertible debentures have all maintained high ratings, indicating potential for future upgrades as Aavas continues its growth trajectory.

Aavas' CEO, Mr. Sachinder Bhinder, expressed satisfaction with the revised outlook, emphasizing the company's dedication to financial prudence and customer focus. Aavas Financiers aims to enhance financial inclusion and offer innovative housing solutions, notably empowering underserved communities in semi-urban and rural India.

(With inputs from agencies.)