CRISIL reaffirms ratings on Hind Rectifiers' bank loan facilities; Stock gains 1%

The revision in outlook is owing to flattish operating performance in fiscal 2021.

Jun 03, 2021 09:06 IST India Infoline News Service

CRISIL Ratings has revised its outlook on the long-term bank facilities of Hind Rectifiers Ltd to ‘Stable’ from ‘Positive’ and reaffirmed the rating at ‘CRISIL BBB-’. The rating on the short-term bank facilities has been reaffirmed at ‘CRISIL A3’.

The revision in outlook is owing to flattish operating performance in fiscal 2021.

CRISIL Ratings on the bank facilities of HRL continues to reflect the extensive experience of the promoters in the power electronic equipment industry, established relationship with customers, a strong order pipeline providing revenue visibility, and an above-average financial risk profile. 

On Thursday morning trade, Hind Rectifiers was trading at Rs140 per piece up by Rs1.40 or 1.01% on Sensex.

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