By Vivek Jain

India Ratings and Research (Ind-Ra) has reduced the amount of commercial paper (CP) programme rated by the agency for HEG Limited to INR1bn from INR2.3bn. HEG had last raised CPs to the extent of INR1.25bn against the said INR2.3bn limit and the same have been repaid when due.

HEG’s outstanding ratings are as follows:
- Long-Term Issuer Rating: ‘IND A’, Outlook Stable
- INR6,550m fund-based working capital facilities: ‘IND A’/Stable and ‘IND A1’
- INR2,600m non-fund-based working facilities: ‘IND A’/Stable and ‘IND A1’
- INR2,371.2m  long-term loans: ‘IND A’/Stable
- INR1bn CP* programme (reduced from INR2.3bn): ‘IND A1’

*CP is carved out of the fund-based facilities.

For HEG’s rating rationale, please click
here.


SOLICITATION DISCLOSURES

Additional information is available at www.indiaratings.co.in. The ratings above were solicited by, or on behalf of, the issuer, and therefore, India Ratings has been compensated for the provision of the ratings.

Ratings are not a recommendation or suggestion, directly or indirectly, to you or any other person, to buy, sell, make or hold any investment, loan or security or to undertake any investment strategy with respect to any investment, loan or security or any issuer.

DISCLAIMER

ALL CREDIT RATINGS ASSIGNED BY INDIA RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTPS://WWW.INDIARATINGS.CO.IN/RATING-DEFINITIONS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE WWW.INDIARATINGS.CO.IN. PUBLISHED RATINGS, CRITERIA, AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. INDIA RATINGS’ CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE, AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE CODE OF CONDUCT SECTION OF THIS SITE.

Applicable Criteria

Analyst Names

  • Primary Analyst

    Vivek Jain

    Director
    India Ratings and Research Pvt Ltd 601-9 Prakashdeep Building 7 Tolstoy Marg New Delhi 110001
    +91 11 43567249

    Media Relation

    Mihir Mukherjee

    Manager Corporate Communications and Investor Relations
    +91 22 40356121