IIFL Finance Ratings Affirmed: A Stable Outlook Post-RBI Ban Lifting
Fitch Ratings has affirmed IIFL Finance's ratings with a stable outlook, following the RBI's lifting of the ban on new gold-backed lending. The firm's franchise is expected to stabilize, with resilient funding in housing and microfinance supporting profitability despite challenges in gold-backed lending.
- Country:
- India
Fitch Ratings affirmed IIFL Finance's ratings with a stable outlook on Monday, citing the gradual stabilization of the firm's franchise after the Reserve Bank of India lifted its ban on new gold-backed lending.
The RBI had previously imposed regulatory restrictions in March, which were lifted in September, allowing IIFL Finance to resume its gold-backed lending operations.
Fitch has affirmed the long-term issuer default rating (IDR) and medium-term note programme rating at 'B+' for IIFL Finance, with expectations of a stabilizing outlook. While funding for gold-backed lending remains tentative and could limit growth, resilient funding in housing finance and microfinance is likely to sustain the group's credit profile and profitability.
(With inputs from agencies.)
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