DHFL crisis: How the housing finance giant’s fortunes took a downward turn



With CRISIL, Icra, and CARE downgrading the papers of Dewan Housing Finance (DHFL) to ‘D’, or default grade, India’s third-largest mortgage finance company is finding itself in an unenviable spot that it may not have imagined even a year ago. While CRISIL and Icra downgraded the short-term ratings, CARE also followed suit to downgrade DHFL’s long-term ratings to D.

Even CARE Ratings downgraded the long-term credit of DHFL to D. Exactly a year back, in fact, the then Lord Mayor of London Charles Bowman was “delighted” to welcome Kapil Wadhawan, …


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