CARE Ratings Upgrades HTL Limited Bank Facilities Following Improved Financial Performance
HFCL Ltd has reported a significant credit rating upgrade for its material subsidiary, HTL Limited. CARE Ratings Limited, a SEBI Registered Credit Rating Agency, upgraded the ratings of various bank facilities extended to HTL, reflecting the improved operational and financial performance of the company.The rating actions assign a Positive Outlook across several key facilities, reinforcing the confidence of both lenders and stakeholders in HTL's business prospects and financial standing.
CARE Ratings Limited assigned or upgraded the credit ratings for different types and amounts of bank facilities provided to HTL Limited. The details of these ratings are as follows:
| Facilities | Amount (₹ in Crore) | Ratings | Rating Action |
|---|---|---|---|
| Long Term Bank Facilities | ₹ 40.00 (Enhanced from ₹21.87) | CARE A (CE); Positive | Upgraded from CARE BBB+; Stable; Positive outlook assigned |
| Long Term Bank Facilities | ₹ 60.00 (Reduced from ₹122.75) | CARE A (CE); Positive | Upgraded from CARE BBB+; Stable; Positive outlook assigned |
| Long Term / Short Term Bank Facilities | ₹ 115.00 | CARE A (CE); Positive / CARE A1 (CE) | Upgraded from CARE BBB+; Stable / CARE A2; Positive outlook assigned |
| Short Term Bank Facilities | ₹ 150.00 | CARE A1 (CE) | Upgraded from CARE A2 |
| Long Term / Short Term Bank Facilities | ₹ 230.00 | CARE A-; Positive / CARE A2+ | Assigned |
The upgraded ratings confirm the strengthening financial position and operational stability of HTL Limited, as assessed by the credit rating agency.
HFCL Stock Price Movement
Today, HFCL Limited saw its shares decline by 2.87%, settling in the post-market session at ₹204.59. The stock traded a total of 29.25 million shares during the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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