ICRA assigns ‘A1’ rating to CP programme of KEC International

Credit rating agency, ICRA has assigned a short-term rating of ‘A1’ to the Rs 50.00 crore Commercial Paper (CP) programme of KEC International. The rating agency has long-term rating of ‘A+’ and short-term rating of ‘A1’ outstanding on term loans, fund based limits and non-fund based limits of the company aggregating to Rs 10972.09 crore. The outlook on the long-term rating is stable. The rating takes into account the strong order book position of the company, i.e. Rs 9,322 crore as on September 2014, which provides healthy revenue visibility in the medium term as well as its diversified geographical presence. KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has a presence in the verticals of power transmission, power systems, cables, railways, telecom and water.