Care Ratings has assigned and reaffirmed credit ratings for Happiest Minds Technologies. The rating for short-term bank facilities is assigned as CARE A1+ (A One Plus). Ratings for non-convertible debentures and long-term bank facilities have been reaffirmed at CARE AA-; Stable. These ratings reflect Care Ratings’ assessment of the company’s creditworthiness and stability.
Credit Rating Assignment
Happiest Minds Technologies announced that Care Ratings has assigned a credit rating of CARE A1+ (A One Plus) to the company’s short-term bank facilities, amounting to ₹5.00 crore. This rating indicates a high degree of certainty for timely payment of short-term financial obligations.
Rating Reaffirmation
Care Ratings has also reaffirmed the existing credit ratings for the issuance of non-convertible debentures and long-term/short-term bank facilities:
- Non-Convertible Debentures: CARE AA-; Stable (Double A Minus; Outlook: Stable) for ₹80.00 crore.
- Long Term Bank Facilities: CARE AA-; Stable (Double A Minus; Outlook: Stable) for ₹412.98 crore.
- Long-term/Short term Bank Facilities: CARE AA-; Stable / CARE A1+ (Double A Minus; Outlook: Stable/ A OnePlus) for ₹390.00 crore.
Source: BSE