Bharat Forge's AA+ credit rating reaffirmed by ICRA

11 Apr 2023 , 09:26 AM

Bharat Forge’s  long-term fund-based and working capital facilities have been reaffirmed with a rating of ICRA AA+, and a Stable outlook. While its long-term and short-term fund-based or term loan rating has been reaffirmed as ICRA AA+ (Stable) and ICRA A1+, respectively. The non-fund based facilities have been rated as ICRA A1+.

ICRA has also reaffirmed the rating on company’s long-term non-convertible debentures of ICRA AA+ (Stable).

The long-term and short-term unallocated limits have been rated as ICRA AA+ (Stable) and ICRA A1+, respectively.

These ratings reflect the company’s financial stability, strong creditworthiness, and ability to manage its financial risks effectively. They also highlight the company’s ability to meet its obligations on time.

At around 9.23 AM, Bharat Forge was trading at Rs 760.50, up by 0.54% against the previous close of Rs 756.45 on NSE. The counter opened at Rs 760.

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