Ind-Ra affirms KEC International's commercial paper at 'IND A1+'; stock sheds 1%

The company is a leading provider of end-to-end turnkey services for projects in T&D, railways and solar power segments.

Jul 07, 2021 01:07 IST India Infoline News Service

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India Ratings and Research (Ind-Ra) has affirmed KEC International Limited’s commercial paper (CP) programme at IND A1+.

According to the report, the CP has been carved out of KEC’s working capital limits. KEC will use the CP proceeds to meet its working capital requirements.

To arrive at the ratings, Ind-Ra continues to take a consolidated view of KEC and its subsidiaries in view of the strong operational and financial linkages among the entities.

KEC is the flagship company of the RPG group. The company is a leading provider of end-to-end turnkey services for projects in T&D, railways and solar power segments.

At around 1:26 PM, K E C International was trading at Rs414.60 per piece down by Rs5.3 or 1.26% on the BSE.

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