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Entity-Specific Rating Rationales

23 Sep 2025

HDFC Bank Limited: Rating reaffirmed for PTCs issued under mortgage loan securitisation transaction

HDFC Bank Limited: Rating reaffirmed for PTCs issued under mortgage loan securitisation transaction

30 Jun 2025

HDFC Bank Limited: Ratings reaffirmed

HDFC Bank Limited: Ratings reaffirmed

30 Sep 2024

HDFC Bank Limited: Rating reaffirmed for PTCs issued under mortgage loan securitisation transaction

HDFC Bank Limited: Rating reaffirmed for PTCs issued under mortgage loan securitisation transaction

01 Jul 2024

HDFC Bank Limited: Ratings reaffirmed

HDFC Bank Limited: Ratings reaffirmed

05 Jul 2023

HDFC Bank Limited: [ICRA]AAA (Stable)/[ICRA]A1+ assigned to instruments transferred from erstwhile HDFC Limited; rating reaffirmed

HDFC Bank Limited: [ICRA]AAA (Stable)/[ICRA]A1+ assigned to instruments transferred from erstwhile HDFC Limited; rating reaffirmed

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Entity-Specific Credit Perspective Reports

25 Jul 2025

HDFC Bank Limited

HDFC Bank Limited (Non-SF)

26 Jul 2024

HDFC Bank Limited

HDFC Bank Limited (Non-SF)

02 May 2023

HDFC Bank Limited

HDFC Bank Limited (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
PTC Series A1 -- -- [ICRA]AAA(SO) --
Fund Based bank facilities [ICRA]A1+ -- [ICRA]AAA(Stable) --
Subordinated Debt -- -- Withdrawn --
Non Convertible Debenture -- -- [ICRA]AAA(Stable) --
Commercial Paper Withdrawn -- -- --
Fixed Deposit -- -- [ICRA]AAA(Stable) --
Issuer rating -- -- [ICRA]AAA(Stable) --
Basel III Tier II Bonds -- -- [ICRA]AAA(Stable) --
Infrastructure Bonds -- -- [ICRA]AAA(Stable) --

Our Analysts

Analyst 1

Sohil Mehta

Analyst 2

Sachin Sachdeva

Sector Head

Karthik Srinivasan
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