Moody's turns Indiabull view to stable

Moody's Investors Service said it changed the outlook for Indiabulls Housing Finance Ltd. to stable from negative, citing a stabilization in funding access, and affirmed its B3 corporate family rating and foreign-currency senior secured ratings

“Access to funding remains challenging compared with other large Indian finance companies although it is improving. The decline in balance sheet has slowed as the company has been able to roll over a greater proportion of bank loans. It has also been able issue bonds in the domestic market over the last six months,” Moody’s said in a press release.

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