ICRA reaffirms ‘AA/A1+’ ratings to Eicher Motors’ bank facilities

Credit rating agency, ICRA has re-affirmed ‘AA/A1+’ ratings to Eicher Motors’ bank facilities worth Rs 24 crore. The outlook on long-term rating is Stable. The ratings re-affirmation takes into account the strong market position of the company in the niche segment of leisure bikes which has helped the company record a robust volume growth over the past two years. The rating also factors in the strong growth expected in 2014 in light of the new product launches as well as waiting period for company's products providing revenue visibility. Eicher Motors is one of the leading manufacturers of commercial vehicle. It has manufacturing facilities located in Madhya Pradesh, Tamil Nadu, Maharashtra, and Haryana.