HCL Technologies Limited and HCL America Inc.

...HCL Technologies Limited's ratings reflect the company's solid market position in the global IT service industry, robust long-term industry growth, solid and resilient profitability and cash generation, and a highly conservative capital structure, despite slower near-term growth due to lower global IT discretionary spending amid global economic uncertainty. Fitch Ratings expects HCL to maintain a strong financial structure with a net cash position over the medium term....

Rating Report