GIC Housing Finance received a credit downgrade, with ICRA downgrading the company's line of credit and NCDs.
GIC Housing Finance's Line of Credit of Rs. 12,500 crores was downgraded from AA+ (Stable) to AA+ (Negative), while its Non-Convertible Debentures of Rs. 550 crores was also downgraded from AA+ (stable) to AA+ (Negative).