ICRA upgrades ratings for VBHC

ICRA (Investment Information and Credit Rating Agency) has upgraded the long-term rating of VBHC Value Homes Private Limited (VBHC, previously Value and Budget Housing Corporation Private Limited) to [ICRA]BBB+ (pronounced as ICRA triple B plus)from [ICRA]BBB (pronounced as ICRA triple B)1 for the company’s Rs. 77.50 crore (enhanced from Rs 70.00 crore) fund based facilities. The outlook on the long-term rating is stable. Mr. Jerry Rao, Chairman, VBHC, commenting on the upgrade said," I welcome this endorsement of our strategy and execution and that in the atmosphere of negativity on Real Estate, we feel good that Affordable Housing has received a positive vote from ICRA."