India Ratings and Research (Ind-Ra) has upgraded PNB Housing Finance Limited’s non-convertible debentures (NCDs) to ‘IND AA+’ from ‘IND AA’ with a stable outlook. The NCD limit has been split into bank loans and NCDs, with a corresponding ‘IND AA+’ rating assigned to the bank loans.
What prompted the upgrade of PNB Housing Finance’s NCD ratings by India Ratings, and what is the new rating assigned?
Discuss the key drivers that have led to the improvement in PNBHF’s asset quality, as mentioned by India Ratings.
Please provide your answers in the comment section!!
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