Considering its strong financial position and market leadership, CRISIL gave ‘CRISIL AAA/Stable’ rating to Larsen & Toubro (L&T’s) Rs 100 crore inflation linked capital indexed non-convertible debenture issue.
L&T got this top rating owing to its diversified revenue profile, strong financial flexibility, and its dominant position in the engineering and construction (E&C) market in India.
L&T’s strong positioning is reflected in its robust order inflows and order book despite challenging market conditions.
Further, the rating agency reaffirmed its ratings on L&T’s existing debt instruments and bank facilities at ‘CRISIL AAA/FAAA/Stable/CRISIL A1’.
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