Credit rating agency, CARE has reaffirmed ‘AA+’ rating to Hindalco Industries’ Non-Convertible Debenture (NCD) issue worth Rs 6,000 crore. The rating factors in the leadership position of the company in India’s aluminium industry.
The rating is also strengthened by the company’s healthy financial position, comfortable debt coverage indicators, healthy liquidity position, significant investments in the group companies having large market value and increase in capacities with the gradual commissioning of the three large Greenfield projects.
Hindalco Industries, the metals flagship company of the Aditya Birla Group, is an industry leader in aluminium and copper. The company’s aluminium units across the country encompass the entire gamut of operations from bauxite mining, alumina refining, aluminium smelting to downstream rolling, extrusions, foils and alloy wheels, along with captive power plants and coal mines.
