Subsidiary HTL credit rating upgraded from BBB+ to A with Positive Outlook

Rating UpgradedCredit & Debt View source PDF

HFCL · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

+9.3%1-day move

₹206.00

prior close

₹205.43

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

+1.2+0.5+2.4+1.9+9.3+8.5+4.2+5.5+4.8+2.9-4.5———

Up moveDown movePending

AI summary

CARE Ratings upgraded credit ratings of HTL Limited, a material subsidiary of HFCL, from CARE BBB+ Stable to CARE A with Positive Outlook, citing improved operational and financial performance. Long term bank facilities were enhanced from about 22 crore rupees to 40 crore rupees. A new long term/short term facility of 230 crore rupees was assigned CARE A- Positive and CARE A2+. Short term ratings improved from CARE A2 to CARE A1. The upgrade reflects strengthened credit profile and improving business fundamentals of HTL.

Likely market impact

Positive for HFCL - its material subsidiary HTL's credit profile has strengthened, reflecting improving business fundamentals and lender confidence.