ICRA assigns high quality rating to Rs 50cr NCD of HHFL

New Delhi, Aug 30 (UNI) Credit rating agency ICRA today assigned LAA+ rating to Rs 50 crore long term non-convertible debentures (NCD) of Hero Honda Finlease Limited (HHFL).

ICRA also reaffirmed A1+ rating assigned to Rs 100 crore short-term debt (STD) programme of HHFL, indicating highest credit quality.

HHML's long-term debt instrument has an LAAA rating outstanding, indicating highest credit quality.

HHFL reported stable strong earnings in the past on the strength of relatively high fee based income and stable interest spreads while maintaining competitive cost of funds, low overhead expenses and no credit provisions.

The liquidity position of the company is comfortable as a result of a favourable asset liability maturity profile and the relatively high financial flexibility it enjoys being a subsidiary of HHML.

UNI SBA PV ND1714