The Rating Committee of ICRA has reaffirmed the rating of BEML Limited’s non-convertible debenture (NCD) programme at [ICRA]A+ (pronounced as ICRA A plus). The Outlook on the long-term rating has been revised to Negative from Stable. Instruments with [ICRA]A rating indicate adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.
The Rating Committee of ICRA, after due consideration, has reaffirmed the long-term rating of [ICRA]A+ (pronounced ICRA A plus) outstanding on the Rs. 4,500.0 crore (enhanced from Rs. 2,750 crore) Line of Credit (LOC) of BEML Ltd, and also assigned a long-term rating of [ICRA]A+ (pronounced ICRA A plus) to the additional bank limits of Rs. 1,500 crore. The Outlook on the long-term rating has been revised to Negative from Stable. The rating committee has also reaffirmed the short-term rating of [ICRA]A1+ (pronounced ICRA A one plus) outstanding on the aforementioned LOC and also assigned a short-term rating of [ICRA]A1+ to the additional bank limits of Rs. 250 crore.
