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Ind-Ra reaffirms the credit rating of BHEL’s bank facilities worth Rs68,000 crore; stock gains ~1%

The rating agency has reaffirmed the long-term rating of fund-based working capital limits worth Rs6,000 crore to ‘IND AA’.

June 28, 2022 2:58 IST | India Infoline News Service
Bharat Heavy Electricals Limited (BHEL) has informed that India Ratings & Research has reviewed and reaffirmed the ratings of company’s bank facilities.

The rating agency has reaffirmed the long-term rating of fund-based working capital limits worth Rs6,000 crore to ‘IND AA’. It has given a Negative outlook for the same.

Ind-Ra has reaffirmed the rating of non-fund-based working capital limit worth Rs54,000 crore at ‘IND A1+’.

While the rating for Commercial Papers worth Rs8,000 crore has been reaffirmed at ‘IND A1+’ as well.

At around 2.55 PM, BHEL’s counter was trading at Rs46.25 up by Rs0.3 or 0.65% from its previous closing of Rs45.95 on the BSE. The scrip touched intraday high and low of Rs46.45 and Rs45.30 respectively.

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