CRISIL has reaffirmed 'AA+/Stable/A1+' ratings on debt instruments and bank facilities of Bajaj Finance. CRISIL's ratings remain centrally based on Bajaj Finance's strategic importance to, and the continued support expected from, the Bajaj group.

The ratings also factor in the company's healthy capitalisation. These rating strengths are partially offset by Bajaj Finance's focus on relatively riskier asset segments and the under-seasoned nature of the mortgage loan book.

CRISIL believes that Bajaj Finance will remain strategically important to the Bajaj group, and continue to 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 Bajaj Finance receives from the Bajaj group, or weakening, in CRISIL's view, of the group's credit risk profile, or significant deterioration in Bajaj Finance's asset quality.

Shares of the company declined Rs 60.05, or 2.27%, to settle at Rs 2,590. The total volume of shares traded was 3,381 at the BSE (Wednesday).