Hot Pursuit
Housing & Urban Development Corporation Ltd announced a series of rating actions from Japan Credit Rating Agency Ltd and CRISIL, alongside reaffirmations from Japan Credit Rating Agency, Ltd. Japan Credit Rating Agency Ltd upgraded the Foreign Currency Long-term Issuer Rating and Local Currency Long-term Issuer Rating to A-, with a stable outlook, previously rated BBB+, while JCR also upgraded the Foreign Currency Long-term Issuer Rating and Local Currency Long-term Issuer Rating to A-, with a stable outlook, and upgraded Foreign Currency Long-term Issuer Rating and Local Currency Long-term Issuer Rating from BBB+ to A-; furthermore, CRISIL upgraded Debentures amounting to Rs 500, while reaffirming Bonds totaling Rs 1000 Crore at AAA based on government support, and Loans amounting to Rs 500 Crore at AA+ with a Watch Positive reflecting potential upgrade due to improved financials, and reaffirmed Bonds totaling 1000 at AAA, citing government support as key, with Japan Credit Rating Agency, Ltd. noting that ratings for individual bonds or commercial paper may be changed, suspended or withdrawn, and that JCR is a Nationally Recognized Statistical Rating Organization for government securities, municipal securities and foreign government securities.