Credit rating agency, ICRA has assigned the short-term rating of ‘A1’ to the Rs 100.00 crore (enhanced from Rs 50.00 crore to 150.00 crore) Commercial Paper (CP) programme of KEC International. The rating agency has a long-term rating of ‘A+’ and short-term rating of ‘A1’ outstanding on term loans, fund based limits and non-fund based limits of the company aggregating to Rs 10972.09 crore. The outlook on the long-term rating is stable.
Further, ICRA also has a long-term rating of A+ (stable) outstanding on the Rs 100.00 crore long-term debt programme of KEC and a short-term rating of A1+(SO) outstanding on the Rs 60.00 crore CP programme of KEC backed by Standby Letter of Credit from Central Bank of India and IDBI Bank.
KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has a presence in the verticals of power transmission, power systems, cables, railways, telecom and water.
