ICRA revises rating of HEG’s short term debt programme

Credit rating agency, ICRA has revised the rating assigned to Rs 150 crore Commercial Paper (CP) / Short Term debt (STD) Programme of HEG to A1 from A1+. Instruments with A1 rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.

HEG is a group company of Rs 5,000 crore business conglomerate LNJ Bhilwara Group, with strong presence in textiles and power. The Group, which after establishing itself in Textiles and Graphite Electrodes business, subsequently forayed into Power Generation and IT enabled services.