Fullerton India Home Finance Company Limited (FIHFC), a non-banking housing finance company, a 100% subsidiary of Fullerton India Credit Company Limited, has recently been assigned the highest rating by CRISIL with “CRISIL AAA/Stable” for long-term facilities (Bank Loan, NCD and SD) and “CRISIL A1+” for short term facilities (CP).
FIHFC has been awarded this rating on the basis of its strong support from the ultimate parent, Fullerton Financial Holdings (FFH), Singapore, a step down subsidiary of Temasek, experienced management and healthy capitalisation FFH holds 100% in Fullerton India Credit Company Limited (FICCL), the immediate parent of FIHFC.
Speaking on this announcement, Mr. Rakesh Makkar, CEO and Whole Time Director FIHFC, said, “In an otherwise challenging market, receiving the highest rating from CRISIL reinstates our commitment to effectively serve the affordable customer segment of the country via home loans and loans against property. This rating will further help the Company receive a wider acceptance among lenders both on-shore and off-shore and thereby benefit the end consumer”.
FIHFC provides housing loans, loans against property in the affordable housing segment. This fits well with the target segment of FICCL which proves other retail consumer loans and thereby aligns with the global strategy for FFH.