ICRA reaffirms Bharat Electronics’ credit rating

8 Mar 2023 , 11:55 AM

Bharat Electronics Limited informed that ICRA has retained the credit ratings on instruments of the company.

The rating agency has reaffirmed the ‘ICRA AAA’ rating on fund-based limits worth Rs 500 crore. Further, the rating on long-term unallocated limits worth Rs300 crore has also been reaffirmed at ‘ICRA AAA’. The rating agency has reaffirmed a ‘Stable’ outlook on these instruments.

Company’s non-fund based limits worth Rs 4,500 crore have been reaffirmed at ‘ICRA A1+’.

These ratings reflect the best credit quality in both the long and short term. Long-term and short-term credit risk is the lowest for instruments rated in these categories. These ratings are valid until March 1, 2024, stated the company in its filing with the bourses.

At around 11.51 AM, Bharat Electronics was trading 0.31% lower at Rs96.15 against the previous close of Rs96.45 on NSE. The counter touched an intraday high and low of Rs96.40 and Rs94.50 respectively.

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