{"id":421416,"date":"2021-06-21T08:55:44","date_gmt":"2021-06-21T03:25:44","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=421416"},"modified":"2021-06-21T09:15:49","modified_gmt":"2021-06-21T03:45:49","slug":"crisil-downgrades-bhel-credit-rating-on-long-term-bank-facilities","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/crisil-downgrades-bhel-credit-rating-on-long-term-bank-facilities\/","title":{"rendered":"Crisil downgrades BHEL credit rating on long-term bank facilities"},"content":{"rendered":"<p>Crisil has downgraded the rating on long-term bank facilities of state-owned engineering major Bharat Heavy Electricals Ltd (BHEL) from AA\/negative to AA-minus\/negative.<\/p>\n<p>The rating on short-term facilities has been reaffirmed at A1-plus. <\/p>\n<p>Crisil said the rating downgrade reflects weakening of BHEL&#8217;s business and financial risk profile due to significantly weaker-than-expected operating performance in fiscal 2021 and operating losses reported for the second consecutive year.<\/p>\n<p>During the financial year ended March (FY21), BHEL&#8217;s consolidated net loss stood at Rs 2,697 crore as compared to net loss of Rs 1,466 crore in FY20.<\/p>\n<p>At the same time, revenue from operations skidded 20.48 per cent to Rs 16,296 crore in FY21 from Rs 20,495 crore in FY20.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crisil has downgraded the rating on long-term bank facilities of state-owned engineering major Bharat Heavy Electricals Ltd (BHEL) from AA\/negative to AA-minus\/negative. The rating on short-term facilities has been reaffirmed at A1-plus. Crisil said the rating downgrade reflects weakening of BHEL&#8217;s business and financial risk profile due to significantly weaker-than-expected operating performance in fiscal 2021 and operating losses reported for the second consecutive year. During the financial year ended March (FY21), BHEL&#8217;s consolidated net loss stood at Rs 2,697 crore as compared to net loss of Rs 1,466 crore in FY20. At the same time, revenue from operations skidded 20.48 [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-421416","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/421416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=421416"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/421416\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=421416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=421416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=421416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}