Credit rating agency, ICRA has downgraded the ratings assigned to bank facilities of Bajaj Electricals. The credit rating agency, has downgraded the company’s Commercial Paper (CP) programme of Rs 200 crore from ‘A1 +’ to ‘A1’.
Further, the agency, has downgraded the rating for company’s Line of Credit (LOC) of Rs 2,334.41 crore as under - Long Term rating from ‘A+’ to ‘A’ and Short Term rating from ‘A1+’ to ‘A1’.
Bajaj Electricals, part of the Rs 20,000 crore Bajaj Group, is engaged in business appliances, fans, lighting, luminaries and engineering and projects.
