PIONEER EDGE NEWS SERVICE/ Rishikesh
THDC India Limited received an upgrade to its credit rating from M/s ICRA Ltd, M/s CARE Ltd and M/s India Rating. The rating agencies upgraded the company’s long-term credit rating from “AA” to “AA+” with stable Outlook, citing consistent revenue growth, improved profitability and a stronger balance sheet.
The CMD and director (Finance), THDCIL, Sipan Kumar Garg congratulated the entire THDCIL team and stated that the credit rating upgrade reflects the PSU’s strengthening financial progress and disciplined strategic execution. He noted that the enhanced rating serves as an external validation of THDCIL’s sustained focus on operational efficiency, long-term financial stability and maintenance of a robust capital structure.
The improved credit rating is expected to further strengthen THDCIL’s access to capital markets, potentially reduce borrowing costs and enhance investor confidence, said senior officers, adding that it also reinforces the company’s financial capacity to pursue future growth opportunities and strategic initiatives.
