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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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ICRA reaffirms AA-plus rating on United Spirit's financial instruments


ICRA reaffirms AA-plus rating on United Spirit s financial instruments
ANI |
Updated: Feb 27, 2021 12:05 IST
Bengaluru (Karnataka) [India], Feb 27 (ANI): ICRA has reaffirmed AA-plus rating with a stable outlook on United Spirits Ltd s (USL s) Rs 3,425 crore long-term, short-term and non-fund based financial instruments.
It also reaffirmed A1-plus rating on USL s commercial paper and has withdrawn the rating on Rs 750 crore non-convertible debentures at the company s request as there was no outstanding against the facility.
ICRA said the ratings continue to factor in USL s strong operational and financial flexibility besides robust corporate governance and compliance practices by virtue of being a 55.94 per cent subsidiary of Diageo Plc. ....

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