Ind-Ra affirms GTPL Hathway's long-term issuer rating to 'A+'/Stable'

To arrive at the ratings, Ind-Ra has taken a consolidated view of GHL and its subsidiaries and joint ventures, collectively referred to as GTPL.

Jun 25, 2021 01:06 IST India Infoline News Service

GTPL Hathway
India Ratings and Research has affirmed GTPL Hathway Limited’s (GHL) Long-Term Issuer Rating at ‘IND A+’. Th­e Outlook is Stable.

To arrive at the ratings, Ind-Ra has taken a consolidated view of GHL and its subsidiaries and joint ventures, collectively referred to as GTPL.

All the entities have strong legal, operational and strategic linkages among them.

The ratings reflect a substantial improvement in GTPL’s financial profile exemplified by a meaningful reduction in its net debt and better-than-expected profitability, leading to an improvement in the net leverage (net debt/EBITDA) from FY19 to FY21.

At around 1:30 PM, GTPL Hathway was trading at Rs169.70 per piece higher by 0.65% on the BSE.

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