These ratings indicate the highest credit quality in the long- and short-term.In an exchange filing made after market hours on Friday, 14 February 2020, Bharat Electronics said that the Rating Committee of ICRA has reaffirmed the long-term rating for the Line of Credit (LOC) at [ICRA] AAA (pronounced as ICRA triple A).
The Rating Committee of ICRA has also reaffirmed the short-term rating for the LOC at [ICRAJA1+ (pronounced as ICRA A one plus).
The outlook on the long-term rating is stable. These ratings indicate the highest credit quality in the long- and short-term.
The stock closed 2.58% lower to Rs 83.00 yesterday, 14 February 2020.
Bharat Electronics is a state-owned aerospace and defense company with about nine factories, and several regional offices in India. It primarily manufactures advanced electronic products for the Indian Armed Forces. The Government of India held 55.27% stake in the company as on 31 December 2019.
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