S&P trims HT Global IT

S&P said it lowered its long-term issuer credit rating on HT Global IT Solutions Holdings Ltd. to B+ from BB-. The outlook is stable.

At the same time, the agency revised its long-term issue rating on the company's senior secured notes due 2021 to B+ from BB-.

HT Global is a Mauritius-based holding company, with a stake in Hexaware Technologies Ltd. Hexaware is an India-based service provider of information technology and business process outsourcing.

“We downgraded HT Global because we believe the company's increasingly aggressive financial policies will lead its deleveraging to be slower than we earlier anticipated over the next 12-18 months,” S&P said in a news release.

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