Credit rating agency, ICRA has revised rating of Hind Rectifiers’ Fund Based Limit- cash credit worth Rs 21.50 crore to ‘BB+’ from ‘BBB-’. The rating agency has also Non- Fund Based- (LG/LC) worth Rs 14.00 cr to ‘A4+/BB+’ from ‘A3/BBB-’. The downfall in rating is due to slow in execution of orders. The credit rating has been downgraded by 1 notch.
Hind Rectifiers (Hirect) is engaged in developing, designing, manufacturing and marketing power semiconductor, power electronic equipment and railway transportation equipment.
