Fitch rates Bharat Heavy Electricals loans AAA(ind)

Fitch Ratings said it assigned a national long-term issuer rating of AAA(ind) to Bharat Heavy Electricals Ltd., along with AAA(ind) ratings to its sanctioned fund-based cash credit limits aggregating Rs. 1 billion and its non fund-based long-term bank facilities totaling Rs. 182.27 billion. Fitch also said it assigned a F1+(ind) rating to its non fund-based short term limits of Rs. 17.73 billion.

The outlook is stable.

The ratings reflect the company's strong business position as a market leader among the power generation equipment manufacturers in India, its technological capabilities in supplying power generation equipment across various fuels/capacities and a significantly large order book, Fitch said.

The healthy growth in the demand for power amid the growing Indian economy, together with the need to set up new capacities, will continue to drive demand for power generation equipment, the agency said.

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