Hindustan Construction Company Limited — Credit Ratings, 19-12-2025: Credit Rating

ICRA Limited has reaffirmed Hindustan Construction Company's (HCC) long-term rating for Non-Convertible Debentures amounting to Rs. 823.90 Crore at [ICRA]BB(Stable). The Stable outlook reflects HCC's adequate order book and expected improvement in operating performance. While leverage remains high and liquidity stretched, ongoing asset monetization and rights issue proceeds are crucial for meeting debt obligations.