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Fitch Upgrades IIFL Finance to BB-, Outlook Stable

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Fitch Ratings upgraded India-based IIFL Finance's (NSE:IIFL, BOM:532636) long-term issuer default rating to BB- from B+, with a stable outlook, according to a Monday ratings commentary.

It cited sustained improvements in the company's business and risk profiles, as well as asset quality, for the upgrade.

The ratings agency said IIFL's loan growth rebounded after regulatory restrictions on its gold-backed lending business were lifted in September 2024.

Fitch also upgraded IIFL's senior secured debt and global medium-term note program ratings to BB- from B+.

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