PNC Infratech Limited has informed the Exchange about Credit Rating
PNCINFRA · price
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Awaiting price reaction for this filing.
PNC Infratech announced that CARE Ratings has upgraded the long-term bank facility rating of its subsidiary, Hardoi Highways Private Limited, from CARE A (Stable) to CARE AA+ (Stable). The rating applies to bank facilities of Rs. 438.57 crore, slightly reduced from the earlier Rs. 443.00 crore. The upgrade reflects improved creditworthiness of the subsidiary, which operates in the highways/infrastructure space. PNC Infratech itself remains the parent entity benefiting indirectly from the stronger profile of its subsidiary.
Positive for PNC Infratech shareholders — a two-notch upgrade (from A to AA+) signals stronger financial health of the subsidiary, potentially lowering its future borrowing costs and reflecting well on the group's overall credit profile. This may boost investor confidence in the stock.