Credit rating agency, Brickwork Ratings India has rated Bank Loan facilities and Commercial Paper (CP) issue of Elecon Engineering Company aggregating Rs 551.70 crore & Rs 80 crore respectively. The credit rating agency has assigned ‘A’ rating with stable outlook to Bank Loan facilities while it has assigned ‘A2+’ rating to CP issues of the company.
Elecon Engineering Company, founded in 1951, is engaged in delivering power transmission solutions and material handling equipment. The company caters to the needs of various sectors like steel, fertilisers, cement, coal, lignite and iron ore mines, sugar, power stations and port mechanization in India and abroad.
