HFCL LIMITED : CREDIT RATING UPGRADED FOR MATERIAL SUBSIDIARY

• CARE Ratings has assigned/upgraded credit ratings of various bank facilities of HTL Limited, a material subsidiary • Ratings upgraded from CARE BBB+ levels and carry a Positive Outlook • Facilities upgraded include Long Term Bank Facilities worth ₹40.00 Cr (enhanced from ₹21.87 Cr) and ₹60.00 Cr (reduced from ₹122.75 Cr) • Short Term Bank Facilities rated CARE A1 (CE), upgraded from CARE A2 • Long Term / Short Term Bank Facilities rated CARE A (CE) / A1 (CE), upgraded from CARE BBB+ / A2 • Long Term / Short Term Bank Facilities rated CARE A- / A2+, assigned • Rating upgrade reflects strengthened credit profile and improving business fundamentals of HTL

HFCL Limited

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