The highest safety rating of `AAA' was reaffirmed todebentures of varied denominations while the same was also reaffirmed to L&T's fixed deposit and CP programmes, Crisil said in a statement here. The rating factors in L&T's diversified revenue streamwith strong market positions in engineering, construction and cement.

The diversity brings about stable income levels eventhough some of the divisions have witnessed sluggish business environment over the last few years, the agency said. The weak performance of the heavy engineering and cementdivisions has partly offset the steady performance of Engineering, Procurement and Construction (EPC) Projects and construction divisions, steady performance being the result of a large order book available with the company, Crisil said.