New Delhi, May 2 (UNI) Credit rating agency ICRA today reaffirmed A1+ rating to the Rs 100 crore short-term debt (STD) programme of Hero Honda Finlease Ltd (HHFL), indicating highest-credit-quality rating assigned by ICRA to the short-term debt instruments.
Instruments rated in this category carry the lowest credit risk in the short term. The rating takes into account HHFL's parentage by Hero Honda Motors Ltd (HHML).
HHML's long-term debt instrument has an LAAA rating from ICRA indicating highest credit quality.
It also draws comfort from the liquidity position of the company as reflected by a favourable asset liability maturity profile and the relatively high financial flexibility it enjoys on the strength of large unutilised limits from banks, as also its status as a subsidiary of HHML.
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