Credit rating agency, CRISIL has reaffirmed AAA rating with stable outlook to Rs 250 crore long term bank facilities of Neyveli Lignite Corporation. The rating agency has also reaffirmed AAA rating to Rs 600 crore bond programme of the company.
The company has received the rating reaffirmation for bank facilities and debt programme on the back of its robust business risk profile, backed by strong operational efficiency and regulated cash flows.
Neyveli Lignite Corporation is engaged in the business of lignite mining and power generation. At present, the company has four opencast lignite mines with a capacity of about 30.60 million tonnes per annum, while it can produce about 2,740 MW of power from four power plants.
