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India Ratings downgrades BHEL’s Long-term Issuer Rating to ‘AA+’

07 Sep 2016 Evaluate

India Ratings and Research (Ind­Ra) has downgraded Bharat Heavy Electricals’ (BHEL) Long-term Issuer Rating to ‘AA+’ from ‘AAA’. Simultaneously, all ratings have been removed from Rating Watch Negative (RWN) and a Negative Outlook has been assigned to all Long-term ratings. The removal of RWN follows the completion of the ongoing evaluation of BHEL’s key business parameters.

BHEL is India’s largest engineering and manufacturing company of its kind. It is a power plant equipment manufacturer and operates as an engineering and manufacturing company.

Peers
Company Name CMP
Bharat Heavy Elect. 430.50
Thermax 3138.35
Kirloskar Industries 3460.65
Skipper 516.65
INDO-MIM 1238.40
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