ICRA (Investment Information and Credit Rating Agency) has upgraded the long-term rating of VBHC Value Homes Pvt Ltd (VBHC, previously Value and Budget Housing Corporation Pvt Ltd) to [ICRA] BBB+ (pronounced as ICRA triple-B plus) from [ICRA] BBB (pronounced as ICRA triple B) for the company’s Rs 77.5-crore (enhanced from Rs 70 crore) fund-based facilities. The outlook on the long-term rating is stable.
Jerry Rao, Chairman, VBHC, commenting on the upgrade said, “I welcome this endorsement of our strategy and execution and that in the atmosphere of negativity on real estate, we feel good that affordable housing has received a positive vote from ICRA.”