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Fitch assigns Bharat loan AAA(ind)
Fitch Ratings said it assigned a rating of AAA(ind)/F1+(ind) to Bharat Heavy Electricals Ltd.'s Rs. 100 billion non- fund-based additional bank facilities.
At the same time, Fitch said it has affirmed the existing ratings of the company as follows: national long-term issuer rating of AAA(ind), fund-based working capital bank loans aggregating Rs. 1 biliion national long-term rating of AAA(ind) and non-fund-based working capital banking lines of Rs. 200 billion national long-term rating of AAA(ind)and national short-term rating of F1+(ind).
The agency added that during FY08, Bharat recorded operating income of Rs. 193.65 billion and a net profit of Rs. 28.59 billion.
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