Infra player HCC transfers Rs.2,854-Cr debt to associate Prolific Resolution

Mumbai-based infrastructure major HCC has transferred debt of INR 2,854 crore to its associate company, Prolific Resolution . Post transaction, HCC retains a 49% equity stake in Prolific Resolution and has provided a corporate guarantee for 100% of the debt owed by Prolific Resolution to its lenders.HCC serves sectors including water, industrial, buildings, and nuclear power. The firm will also transfer INR 6,508 crore of awards and claims to Prolific Resolution.