Credit rating agency, CARE has revised rating of Himachal Futuristic Communications’ long term bank facilities worth Rs 281.01 crore which was reduced from Rs 315.92 crore to ‘BB+’ from ‘BB’. The rating agency has also revised rating of company’s short term bank facilities worth Rs 225 crore which was enhanced from Rs 170 crore to ‘A4+’ from ‘A4’. The rating revision takes into consideration the improvement in the financial risk profile during 9M FY13 and successful completion of the expansion project.
Himachal Futuristic Communications is engaged in the manufacturing of telecom equipments and provides turnkey services. The manufacturing facilities of the company are located in Solan, Himachal Pradesh (assembly line), and Salcete, Goa (optical fibre cables; capacity of 36,000 cable km).
