March 20, 2012 / 6:17 AM / 5 years ago

TEXT:Fitch Rates HEG's Additional Bank Loans

(The following was released by the rating agency)

NEW DELHI/SINGAPORE, March 20 (Fitch) Fitch Ratings has assigned India-based HEG Limited's (HEG) additional bank loans the following ratings:

- INR1,500m fund-based working capital facilities assigned at 'Fitch AA-(ind)'/'Fitch A1+(ind)'

- INR500m long-term loan assigned at 'Fitch AA-(ind)'

- INR500m non-fund based facilities assigned at 'Fitch AA-(ind)'/'Fitch A1+(ind)'

HEG's outstanding ratings (including the above) are as follows:

- National Long-Term Rating: 'Fitch AA-(ind)'; Outlook Negative

- INR8,500m fund-based working capital facilities: 'Fitch AA-(ind)'/'Fitch A1+(ind)'

- INR3,000m non-fund-based working facilities: 'Fitch AA-(ind)'/'Fitch A1+(ind)'

- INR740.50m long-term loans: 'Fitch AA-(ind)'

- INR2,500m non-convertible debenture (NCD) programmes: 'Fitch AA-(ind)' The INR2,500m NCD programmes comprises two programmes of INR750m each and one programme of INR1,000m.

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