CARE reaffirms AA+ rating to Hindalco’s NCD programme

Credit rating agency, CARE has reaffirmed AA+ rating to Rs 4,500 crore Non Convertible Debenture (NCD) of Hindalco Industries. The NCDs will have tenure of 10 years with bullet repayment at the end of tenth year.

The company has received the said rating reaffirmation on the back of its leadership position in India’s aluminium industry and the professionally qualified management team and its status of being one of the lowest cost producers of aluminium in the world.

Earlier in June, the company received AA+/stable rating from rating agency, CRISIL for its non-convertible debentures (NCDs) programme. The rating agency also reaffirmed ratings on the company’s debt programme at A1+. Further, it reaffirmed AA+ and A1+ rating to the company’s long term and short term bank facilities.