CRISIL has enhanced the rated amount while retaining 'AA+/Stable/A1+' ratings on Bajaj Finance (BFL) on the debt programmes and bank facilities. The rated amount enhanced to Rs 160 billion from Rs 120 billion for total bank loan facilities.

CRISIL's ratings remain centrally based on BFL's strategic importance to, and the continued support expected from, the Bajaj group. The ratings also factor in the company's healthy capitalization. These rating strengths are partially offset by BFL's focus on relatively riskier asset segments and the under-seasoned nature of the mortgage loan book.

CRISIL believes that BFL will continue to be of strategic importance to the Bajaj group, and receive support from the group, over the medium term. The outlook may be revised to 'Positive' if the company's asset quality, competitive position, and earnings profile improve substantially and sustainably across economic cycles.

Conversely, the outlook may be revised to 'Negative' in case of any diminution in the support that BFL receives from the Bajaj group, or weakening, in CRISIL's view, of the group's credit risk profile, or significant deterioration in BFL's asset quality.

Shares of the company declined Rs 6, or 0.34%, to trade at Rs 1,757. The total volume of shares traded was 551 at the BSE (Monday).