PNB Housing Finance (NSE:PNBHOUSING, BOM:540173) said India Ratings has upgraded its rating on the company's non-convertible debentures and bank loans to AAA from AA+, according to a Thursday filing on Indian bourses.
The rating outlook is stable, the filing said.
The rating agency cited PNB Housing's established operating track record, improving profitability and asset quality, and a more granular loan book that lowers concentration risk, the filing said.
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