ICRA has reaffirmed Hindustan Copper’s long-term rating at [ICRA]AA+ (Stable) and short-term rating at [ICRA]A1+. These ratings apply to Rs. 2100 crore in bank facilities and Rs. 100 crore in commercial paper. The reaffirmation reflects ICRA’s continued confidence in Hindustan Copper’s financial stability and operational performance. The rating outlook remains stable, indicating expectations of continued creditworthiness.
ICRA Rating Reaffirmation
Hindustan Copper Limited announced that ICRA Limited has reaffirmed its long-term and short-term credit ratings. The ratings were initially assigned and have been reaffirmed based on ICRA’s assessment of the company’s financial health and operational capabilities.
Long-Term and Short-Term Ratings
The long-term rating stands at [ICRA]AA+ (Stable), indicating a high degree of stability and creditworthiness. The short-term rating has been reaffirmed at [ICRA]A1+. These ratings are applicable to the following facilities:
- Bank facilities totaling Rs. 2100 crore
- Commercial Paper amounting to Rs. 100 crore
Detailed Rating Breakdown
The Rs. 2100 crore bank facilities include:
- Term Loans: Rs. 200.00 crore (Rated: [ICRA]AA+ (Stable))
- Cash Credit: Rs. 350.00 crore (Rated: [ICRA]AA+ (Stable))
- Short term non-fund based – Others: Rs. 150.00 crore (Rated: [ICRA]A1+)
- Unallocated Limits: Rs. 1,400.00 crore (Rated: [ICRA]AA+ (Stable)/[ICRA]A1+)
Source: BSE
