Fitch rates Dewan Housing BB

Fitch Ratings said it assigned long-term foreign-currency and local-currency issuer default ratings of BB to Dewan Housing Finance Corp. Ltd.

The outlook is stable.

The company’s ratings are underpinned by its established housing finance business catering primarily to low- to medium-income customers, Fitch said.

The ratings also consider the company’s well-managed asset quality and low credit costs in line with its low loan-loss history, the agency said, despite having a customer profile that is potentially riskier.

The rating also factors in its diversification efforts beyond its core focus toward higher-yielding and riskier segments, such as loan-against-property and project loans, partly to strengthen margins, Fitch said.

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