Hot Pursuit
Hero Motors Ltd announced that CRISIL Ratings Limited has reaffirmed ratings on its various debt instruments, including Bank Loan Facilities amounting to Rs. 400 Crores, rated Crisil A+/Stable and Crisil A1; External Commercial Borrowings of Rs. 20.85 Crore, rated Crisil A+/Stable (Bank: Axis Bank Limited); Foreign Exchange Forward contracts of Rs. 3 Crore, rated Crisil A1 (Bank: Kotak Mahindra Bank Limited), Rs. 12.04 Crore, rated Crisil A1 (Bank: Axis Bank Limited); an Overdraft Facility of Rs. 20 Crore, rated Crisil A+/Stable (Bank: Kotak Mahindra Bank Limited); Term Loans of Rs. 37.66 Crore, Rs. 43.15 Crore, Rs. 37.73 Crore, and Rs. 23 Crore, all rated Crisil A+/Stable (Banks: Standard Chartered Bank, Axis Bank Limited, ICICI Bank Limited, and Kotak Mahindra Bank Limited, respectively); and Working Capital Facilities of Rs. 162.96 Crore, Rs. 9.61 Crore, and Rs. 30 Crore, all rated Crisil A+/Stable (Banks: Axis Bank Limited, Standard Chartered Bank, and Kotak Mahindra Bank Limited, respectively), with no rating data available from other agencies and no enhancements, assignments, or withdrawals noted.