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Entity-Specific Rating Rationales

17 Feb 2026

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

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

27 Nov 2025

PNB Housing Finance Limited: Rating reaffirmed; rating assigned for enhanced bank facilities and withdrawn for matured instruments

PNB Housing Finance Limited: Rating reaffirmed; rating assigned for enhanced bank facilities and withdrawn for matured instruments

27 Oct 2025

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

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

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Finance Limited: [ICRA]AA+ (Stable) assigned to Rs. 5,000-crore bank facilities programme; Rating reaffirmed; Rating withdrawn for Rs. 150-crore NCD programme

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Finance Limited: [ICRA]AA+ (Stable) assigned to Rs. 5,000-crore bank facilities programme; Rating reaffirmed; Rating withdrawn for Rs. 150-crore NCD programme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PNB Housing Finance Limited: Rating withdrawn for Rs. 300-crore NCD programme

PNB Housing Finance Limited: Rating withdrawn for Rs. 300-crore NCD programme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

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

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

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

11 Apr 2023

PNB Housing Finance Limited: Rating reaffirmed

PNB Housing Finance Limited: Rating reaffirmed

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Entity-Specific Credit Perspective Reports

17 Feb 2026

PNB Housing Finance Limited

PNB Housing Finance Limited (SF)

26 Dec 2025

PNB Housing Finance Limited

PNB Housing Finance Limited (Non-SF)

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) --
Non-Convertible Debentures -- -- [ICRA]AA+(Stable) --
Tier II Bonds -- -- Withdrawn --
Long-term bank facilities -- -- [ICRA]AA+(Stable) --

Our Analysts

Analyst 1

Ritu Rita

Analyst 2

Gaurav Mashalkar

Sector Head

Manushree Sagar
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