ICRA An Affiliate of Moody's

Entity-Specific Rating Rationales

27 Oct 2025

PNB Housing Finance Limited: Rating reaffirmed for PTCs backed by home loan receivables issued by India Residential Mortgage Trust 2025 02

07 Jul 2025

PNB Housing Finance Limited: Provisional [ICRA]AAA(SO) assigned to PTCs backed by home loan receivables issued by India Residential Mortgage Trust 2025 02

28 Nov 2024

PNB Housing Finance Limited: [ICRA]AA+ (Stable) assigned to Rs. 5,000-crore bank facilities programme; Rating reaffirmed; Rating withdrawn for Rs. 150-crore NCD programme

10 May 2024

PNB Housing Finance Limited: Rating withdrawn for Rs. 300-crore NCD programme

28 Mar 2024

PNB Housing Finance Limited: Rating upgraded to [ICRA]AA+; outlook revised to Stable

04 Sep 2023

PNB Housing Finance Limited: [ICRA]AA (Positive) assigned to Rs. 1,000-crore NCD programme

22 Aug 2023

PNB Housing Finance Limited: Rating reaffirmed; outlook revised to Positive

11 Apr 2023

PNB Housing Finance Limited: Rating reaffirmed

Entity-Specific Credit Perspective Reports

28 Oct 2025

PNB Housing Finance Limited

PNB Housing Finance Limited (SF)

11 Jul 2025

PNB Housing Finance Limited

PNB Housing Finance Limited (SF)

18 Dec 2024

PNB Housing Finance Limited

PNB Housing Finance Limited (Non-SF)

29 Apr 2024

PNB Housing Finance Limited

PNB Housing Finance Limited (Non-SF)

27 Apr 2023

PNB Housing Finance Limited

PNB Housing Finance Limited (Non-SF)

Ratings

Description	Short Term	Medium Term	Long Term	Issuer
Series A PTC	--	--	Provisional [ICRA]AAA (SO)	--
Long-term bank facilities	--	--	[ICRA]AA+(Stable)	--
Non-Convertible Debentures	--	--	[ICRA]AA+(Stable)	--
Tier II Bonds	--	--	[ICRA]AA+(Stable)	--

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