From CARE
Bajaj Electricals announced that CARE Ratings has downgrade in the credit rating of the Company's Commercial Paper (CP) issuance (aggregating to Rs.500 crore), from 'CARE A1+ (A One Plus)' to 'CARE A1 (A One)', along with the rationale for such downgrade.The Rating Agency has inter alia considered the moderation in liquidity profile marked by large accumulation of receivables under engineering procurement commission in (EPC) division of the Company, affecting the cash generated from operations for financial year 2019, as the primary reason for its downgrade of the credit rating of the Company.
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