6 Jul 2022 , 03:45 PM
While the rating agency has reaffirmed the short-term rating at ‘CARE A1+’.
Total bank facilities reviewed by the rating agency include Long- term/Short- term bank facilities worth Rs470 crore, and short-term facilities worth Rs103.30 crore.
Further, CARE Ratings Limited has withdrawn the rating assigned to the term loan facility of Orient Electric Limited as the company has repaid the aforementioned facility and there is no outstanding against the facility.
The revision in the long-term rating assigned to Orient Electric Limited (OEL) bank facilities takes into account the company’s steadily growing scale of operations, diversification in product mix, and its strong financial risk profile, which includes consistently healthy return indicators, a comfortable capital structure, and strong debt coverage indicators and liquidity.
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