Star Housing Finance Ltd — Important, 20-02-2026: Company Update

Star Housing Finance's credit ratings have been downgraded by India Ratings & Research to 'IND D' for its INR 450 Cr bank loan facilities and INR 250 Cr Non-Convertible Debentures. This downgrade reflects severe liquidity stress, evidenced by delays in term loan instalments to multiple lenders, though subsequently paid. The company faced an NCD recall due to a CFO exit and has struggled to replace the CFO. An auditor's comment also highlighted poor liquidity, including delays in employee salaries. This signals continued pressure on the company's ability to meet debt obligations, impacting its financial stability.