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Brickwork revises ratings of BEML's credit facilities; Stock surges 2%

The ratings of BEML limited continue to draw strength from the company’s position.

December 02, 2021 3:20 IST | India Infoline News Service
BEML
Brickwork Ratings has reaffirmed the rating for the non-convertible debentures (NCDs) of Rs100cr at 'BWR AA/Stable' and assigns the ratings for the bank loan facilities of Rs5500cr of BEML Limited at 'BWR AA/Stable/A1+'.

The ratings of BEML limited continue to draw strength from the company’s position.

The rating further factors in the company’s comfortable financial risk profile, strong capital structure with a low gearing and adequate debt protection metrics, low counterparty risks with the key clientele of government agencies, PSU etc and a well-established pan-India marketing and service network.

The rating outlook may be revised to Positive in the case of sustained significant growth in revenues with an improvement in the profitability and working capital management, thereby strengthening its credit risk profile.

At around 3:20 PM, BEML was trading at Rs1,892.55 apiece up by Rs39.95 or 2.16% on Sensex.

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PRESTIGE (NSE)

The average score for Prestige Estates Projects Limited stands at 4 against 6, three months back.

Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction

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