CARE upgrades Hinduja Leasing Finance ratings to ‘CARE AA Stable’
CARE Ratings has upgraded the long-term ratings of Hinduja Leyland Finance Ltd., (HLF) to “CARE AA (Double A) Stable.”
This rating applies to long-term bank loan facilities, non-convertible debentures, market-linked debentures, and subordinated debt, it said in a statement.
“The current rating upgrade by CARE to AA (Double A) signifies our ability to navigate the business through challenging times based on a deep understanding of the asset classes we have a presence in. The rating upgrade reaffirms the organization’s strength, leadership, and financial & operational excellence,” said Sachin Pillai, MD & CEO, HLF.
In October 2022, HLF mobilised ₹910 crore of fresh capital from Qualified Institutional Buyers resulting in an improvement in its capital adequacy ratio. The recent capital infusion supports Assets Under Management growth over the medium term in the existing business segment, it said.