Elecon Engineering Company Ltd has informed that the Company has been assigned by CARE Ltd highest rating i.e., PR1+ [PR One Plus] rating to the short- term bank loans / facilities and Second highest rating i.e. CARE AA- [double A minus] rating to the Long-Term bank loans / facilities. The said ratings are valid for one year.
The ratings take into account EECLs long and established track record in engineering industry with well diversified product range both in MHE (Material Handling Equipment) and Gear business, its leadership position in the industrial gear business, strong order book position in MHE business, comfortable financial plus liquidity position and positive industry outlook. CARE Ltd has also issued a Press Release on the said ratings on January 25, 2008.
The said ratings have been noted and accepted by the Board of Directors at its meeting held on January 29, 2008.
The ratings take into account EECLs long and established track record in engineering industry with well diversified product range both in MHE (Material Handling Equipment) and Gear business, its leadership position in the industrial gear business, strong order book position in MHE business, comfortable financial plus liquidity position and positive industry outlook. CARE Ltd has also issued a Press Release on the said ratings on January 25, 2008.
The said ratings have been noted and accepted by the Board of Directors at its meeting held on January 29, 2008.
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