What to watch. ICRA upgrade may flare up interest in L&T Fin

ICRA on Wednesday upgraded its rating on L&T Finance Holdings and its subsidiaries - L&T Finance, L&T Infrastructure Finance and L&T Housing Finance - to AAA from AA+, on strong operating performance in the last nine quarters and a strong risk framework. The upgrade is based on the companies’ strong management team, diversified operations with consolidated entities, strong financial flexibility in raising funds at competitive rates and strong parentage.