H.G. Infra Engineering Limited — Credit Ratings, 09-05-2025: Credit Rating

ICRA has reaffirmed H.G. Infra Engineering Limited’s long-term rating at [ICRA]AA- with a positive outlook and short-term rating at [ICRA]A1+, while upgrading the credit limits. The long-term cash credit limit rose from Rs. 400 Cr to Rs. 700 Cr, and the non-fund based bank guarantee limit increased from Rs. 2,600 Cr to Rs. 3,800 Cr, bringing total rated exposure to Rs. 4,500 Cr. The positive outlook reflects improved credit profile driven by strong financial health and liquidity. This rating action is expected to lower borrowing costs, enhance investor confidence, and offer the company greater operational flexibility.