Credit rating agency, India Ratings and Research has assigned HeidelbergCement India’s Long-Term Issuer rating of ‘AA-‘. The outlook is stable. The rating agency has also assigned the company’s Rs 370 crore long-term unsecured bonds a rating of ‘AA-‘.
The ratings reflect the strong legal, strategic and operational linkages between the company and its ultimate parent HeidelbergCement AG (HCAG, Fitch Ratings Issuer Default Ratings: 'BB+') as assessed under the ‘Parent and Subsidiary Rating Linkage’ criteria.
Heidelberg Cement India is one of the leading producers of building materials worldwide. The company manufactures portland slag cement and portland pozzolana cement. The company has manufacturing facilities located at Ammasandra (Karnataka), Damoh (MP) and Jhansi (UP) and has total production capacity of 5.9 million tonnes per annum.