Moody's shifts Hero FinCorp view to stable

Moody's Investors Service said it affirmed the Ba1 corporate family rating of Hero FinCorp Ltd. and changed the outlook to stable from negative.

“The rating outlook has been revised to stable from negative reflecting Moody's expectation that India's economic recovery and strong affiliate support from Hero MotoCorp Ltd. (HMCL), will help Hero FinCorp maintain a stable credit profile. The rating action also considers the affirmation of the Indian government's Baa3 issuer rating and change in outlook to stable from negative,” the agency said in a press release.

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