CARE reaffirms rating of HSIL’s bank facilities

10 Mar 2017

Credit rating agency, CARE has reaffirmed ‘AA- (Stable)’ rating assigned to HSIL’s long term bank facilities worth Rs 915.63 crore and ‘A1+’ rating to company’s Short term Bank Facilities worth Rs 250 crore. The rating agency has also reaffirmed ‘A1+’ rating to the company’s Commercial Papers worth Rs 250 crore. 

 The ratings assigned to the facilities of HSIL continue to derive strength from the experience of the promoters, established track record, wide distribution network with recognized brand name in sanitary ware and established relations with institutional clients in the container glass segment.  The ratings also factor in the diversified presence in the building products and packaging products segments, consistent growth in the faucet ware segment, comfortable liquidity position, healthy capital structure and comfortable debt coverage indicators.

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