Credit rating agency, Credit Analysis & Research (CARE) has revised rating of Ashok Leyland’s long-term bank facilities to ‘AA-’ from ‘A+’. The rating agency has reaffirmed ‘A1+’ rating to the company’s short-term bank facilities and Commercial Paper program.
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.
