Credit rating upgrade for material subsidiary HTL Limited by CARE
HFCL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CARE Ratings upgraded credit ratings of HFCL's material subsidiary HTL Limited. Long-term bank facilities upgraded from BBB+; Stable to A (CE); Positive. Short-term facilities upgraded from A2 to A1 (CE). Bank facility amounts were ₹40 Cr (enhanced from ₹21.87 Cr), ₹60 Cr (reduced from ₹122.75 Cr), ₹115 Cr, and ₹150 Cr. A new long-term and short-term facility of ₹230 Cr was assigned A-; Positive and A2+. The upgrade reflects improved operational and financial performance of HTL, with a positive outlook.
Positive for HFCL shareholders as the upgrade signals stronger financial health at subsidiary HTL, likely easing borrowing costs and boosting lender confidence.