BHARAT HEAVY ELECTRICALS LTD. - Bharat Heavy Electricals Ltd reply to clarification sought by the exchange

The Exchange had sought clarification from Bharat Heavy Electricals Ltd with respect to news article appearing in The Indian Express on September 23, 2015 titled "BHEL aims to explore defence manufacturing" which inter-alia states, "Meanwhile, Crisil on Monday revised downwards the outlook on the long-term bank facilities of BHEL to 'negative' from 'stable'".<BR><BR>Bharat Heavy Electricals Ltd replied stating "BHEL has not issued the subject information to any media-person. The same has been picked up by the publication's journalist from independent sources'. However, we would like to inform the exchange that as part of review of rating, a communication has been received from CRISIL Ratings on 24.09.2015 at 3 pm informing that BHEL's Long Term Rating for Bank Loan Facilities is re-affirmed as AAA. However, the outlook is revised from 'Stable' to 'Negative'".