Moody's assigns L&T 'Baa1' issuer rating with stable outlook

New Delhi: Infrastructure major Larsen & Toubro Ltd (L&T) on Tuesday said that Moody's Ratings has assigned the group a 'Baa1' long-term issuer rating with a 'stable' outlook, underscoring the company's strong credit profile and financial resilience.

The 'Baa1' rating signifies a quality investment-grade credit profile, reflecting strong capacity to meet financial commitments and a low level of credit risk. It also underscores L&T's prudent financial management and consistent operational performance.

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The 'stable' outlook reflects expectations that L&T and its core international subsidiaries will maintain strict fiscal discipline, comfortable leverage levels and healthy operating margins as high-margin engineering services and large-scale EPC projects in West Asia continue to scale.

In a filing with the BSE, the infrastructure major said it has assigned a matching 'Baa1' rating to L&T Hydrocarbon Saudi Company, an arm of L&T, reflecting the business vertical's tight operational integration with the parent company and the strategic importance of Larsen & Toubro's West Asia operations.

Larsen & Toubro is a 32-billion-dollar Indian multinational engaged in engineering, procurement, and construction (EPC) projects, hi-tech manufacturing, products, and services, operating across diverse domains and multiple geographies.