We use cookies to improve your experience. By using BondbloX, you agree to our use of cookies.
Bond Market News
IIFL Finance Upgraded to BB- by Fitch
August 18, 2026
IIFL Finance Limited was upgraded by a notch to BB- from B+ by Fitch. The rating action reflects a sustained strengthening of the company’s standalone credit profile, business position and asset quality. IIFL has seen a strong recovery in loan growth after regulatory restrictions on its gold-backed lending business were lifted in September 2024. IIFL has significantly shifted toward secured lending, with secured loans accounting for 90% of total loans at March 2026. Gold-backed lending is expected to remain its largest segment at over 50% of the portfolio. The company exited its unsecured business and personal lending and remains cautious about microfinance. IIFL’s NPL ratio improved to 1.5% in FY2026 supported by tighter underwriting, stronger risk controls and improved collections. Profitability has also recovered, with annualised pretax profit improving to 4.1% of average assets in 1Q2027, vs. 3.1% in FY2026. Although leverage increased to 4.5x at June 2026 due to rapid loan growth, Fitch expects it to moderate as internal capital generation strengthens. IIFL’s consolidated Tier-1 capital ratio was healthy at 20.4%, while its funding profile has improved through greater diversification.
Its 7.6% 2030s were up 0.4 points to 100 cents on the dollar, yielding 7.6%.
Go back to Latest bond Market News
Related Posts:
Our Awards
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.