CARE reaffirms rating of Kirloskar Electric’s bank facilities
Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Kirloskar Electric Company’s long term bank facilities worth Rs 85.00 crore which was reduced from 93.9 crore and ‘A3’ rating to company’s short term bank facilities worth Rs 250.00 crore.
The company has received the said rating on the back of its long and established track record in electrical equipments business with established brand image, rich business experience of the promoter, strategic technical collaborations with the global leaders and wide dealer/service network.
Kirloskar Electric Company has established itself as one of the major players in the domestic electric equipment industry. Within the industry, the company is highly diversified and has product lines namely AC motors, DC motors, static equipment, switchgears, transformers and transmission lines catering to wide range of industries.