Credit rating agency, CARE has reaffirmed ‘BBB- (SO)’ rating to Hinduja Foundrie’s long-term bank facilities worth Rs 703.97 crore. The rating agency has also reaffirmed ‘A3 (SO)’ rating to the company’s short-term bank facilities worth Rs 27.70 crore.
The ratings continues to take into account the benefits derived from being part of the Hinduja group including demonstrated financial support extended to the company by the promoter group in the past and stated intent of commitment of the group companies to support the company and the company’s long operational track record being one of the largest foundries in India and strong client base comprising of leading automobile and tractor original equipment manufacturers (OEMs).
Hinduja Foundries (HFL) is primarily engaged in the manufacture of ferrous castings for automobiles, tractors, industrial engines, power generators among others.
Company Name | CMP |
---|---|
Electrost Castings | 193.30 |
AIA Engineering | 3776.60 |
Kirloskar Ferrous | 615.00 |
Nelcast | 150.40 |
Alicon Castalloy | 938.05 |
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