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Fitch assigns HCL Tech first-time A-minus IDR, outlook stable


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The company demonstrated resilience in pandemic-driven slowdown as its 9M FY21 revenue in rupees rose by 7 pc y-o-y
Fitch assigns HCL Tech first-time A-minus IDR, outlook stable
ANI |
Updated: Apr 05, 2021 17:45 IST
Hong Kong, Apr 5 (ANI): Fitch Ratings on Monday assigned HCL Technologies first-time long-term foreign- and local-currency issuer default ratings of A-minus.
The outlook is stable. We have also assigned a senior unsecured rating of A-minus to the 500 million dollar senior notes due 2026 issued by HCL America Inc and guaranteed by HCL.
The ratings reflect HCL s strong market position in the global and Indian IT services industries, leadership in the engineering and R&D segment, buoyant industry growth, robust profitability and cash generation, and a highly conservative capital structure. ....

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General Electric expects negative cash flow in Q1 2021: CEO

General Electric Co expects a cash outflow in the first quarter of 2021 despite a year-on-year increase in cash generation, Chief Executive Officer Larry Culp said at a Barclays Industrial Conference on Tuesday. Culp said the first three months of the year tends to be the industrial conglomerate's "softest" quarter. Analysts surveyed by Refinitiv, on average, expect the Boston-based company to report a cash outflow of $671.7 million in the quarter through March. ....

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