MUMBAI (Thomson Financial) - Fitch Ratings said it assigned a national long-term issuer rating of 'AAA(ind)' to Bharat Heavy Electricals Ltd. (BHEL) with a stable outlook.
The ratings reflect BHEL'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 4.5 times of its 2007 revenues.
The ratings are supported by the company's superior financial position consisting of large cash balances, a negligible debt, growing profitability and free cash flows also give support to the ratings.
tfn.newsdesk@thomson.com
Ref:
http://www.forbes.com/markets/feeds/afx/2008/04/08/afx4864551.html
Ramesh
The Human Search Engine
Alluwanted.com
Tuesday, April 8, 2008
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