CRISIL has assigned its 'AAA/Stable' rating to the Rs 250 billion non-convertible debenture issue and the Rs 20 billion subordinated debt issue of Housing Development Finance Corporation (HDFC), and has reaffirmed its ratings on HDFC's other outstanding debt instruments and fixed deposit programme at 'AAA/FAAA/Stable/A1+'.

The ratings continue to reflect HDFC's leading market position and sound track record in the housing finance business, strong asset quality, diversified and stable resource profile, and healthy capitalisation and profitability.

CRISIL believes that HDFC will maintain a robust credit risk profile over the medium term, backed by its strong asset quality, and its healthy capitalisation and profitability.

Shares of the company declined Rs 1.55, or 0.15%, to trade at Rs 1,052.25. The total volume of shares traded was 10,609 at the BSE (10.59 a.m., Tuesday).