Credit rating agency, CARE has assigned ‘A+/A1+’ rating to Ashok Leyland’s long/ short term bank facilities worth Rs 900 crore. The rating agency has also assigned ‘A1+’ rating to the company’s Commercial Paper worth Rs 600 crore.
The company has received the said ratings on the back of its long track record of operations with strong brand image & distribution network, strong market position in the domestic Medium and Heavy Commercial Vehicle (M&HCV) segment with leadership position in the passenger carrier segment, established presence in all sub-segments of the CV industry with successful entry into LCV segment, high degree of financial flexibility, well qualified and diversified Board of Directors and favourable long term growth prospects of the domestic CV industry.
Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.
