Heranba Industries Credit Rating Upgraded

Heranba Industries Ltd. (BSE-543266, NSE-HERANBA, ISIN: INE694N01015) ("Heranba") has announced the upgradation of Credit rating by CRISIL Rating on the Total Bank Loan Facilities of the company.

Long-Term Rating - CRISIL A / Stable (Upgraded from CRISIL A-/Stable)
Short-Term Rating - CRISIL A1 (Upgraded from CRISIL A2+)

The rating upgrade factors in sustained improvement in Heranba's business risk profile marked by strong top-line growth, healthy accruals and controlled working capital cycle coupled with significant improvement in Heranba's overall financial risk profile.

Commenting on this development, Mr. R K Shetty, Managing Director, Heranba said, "This upgrade by CRISIL is a recognition of Heranba's established track record, healthy accruals and resiliency of the business model. We remain focused in delivering better services thereby benefiting all the stakeholders."

Source : Equity Bulls

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