Can Fin Homes long-term issuer rating upgraded to 'IND AAA'/Stable

India Ratings and Research Pvt Ltd (Ind-Ra) has upgraded Can Fin Homes Limited's (CFHL) long-term issuer rating to 'IND AAA'/Stable from 'IND AA+'. This upgrade, effective December 9, 2025, reflects the expectation of timely liquidity and equity support from Canara Bank, along with CFHL's established presence in the domestic housing finance market, controlled asset quality, and stable profitability.

The instrument-wise rating actions also saw upgrades across the board. Non-convertible debentures (NCDs) with a size of INR15.38 bn (reduced from INR31.98 bn) were upgraded to 'IND AAA'/Stable. Subordinated debt totaling INR2.00 bn also received an upgrade to 'IND AAA'/Stable. CFHL's overall financial health, supported by a strong parentage and a diversified funding mix, underpins these positive rating revisions.

As of September 30, 2025, CFHL reported total tangible assets of INR416.50 bn and a net profit of INR4.75 bn for 1HFY26. The company maintained a strong total capital ratio of 25.58% and equity to assets of 12.86%. These robust financial indicators contributed to the favorable credit rating assessment.