Credit rating agency, Care Ratings has downgraded credit rating of Hindustan Aeronautics’ (HAL) long term bank facilities worth Rs 7,300 crore to ‘AA+’ from ‘AAA’, with stable outlook. The agency has also reaffirmed ‘A1+’ rating for short term bank facilities. The ratings were on the basis of the recent developments, including operational and financial performance of the company.
HAL is Bengaluru based Defence Public Sector Undertakings (DPSU) Company engaged in the design, development, manufacture, repair, overhaul, upgrade and servicing of a wide range of products including, aircraft, helicopters, aero-engines, avionics, accessories and aerospace structures.
