Afcons Infrastructure Limited has informed the Exchange about withdrawal of credit rating.
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Afcons Infrastructure has informed the exchanges that ICRA Limited has withdrawn the credit ratings assigned to the company's bank facilities. This follows the company's request and no-objection certificates received from the bankers, except Bank of Baroda. The company has separately requested withdrawal of the rating for its Bank of Baroda facility as well, which ICRA will process after documentation is completed. The action is in line with ICRA's policy on withdrawal of credit ratings.
Rating withdrawal at the company's request typically signals that the underlying bank facilities have been closed or refinanced, rather than any deterioration in credit quality. Shareholders should watch for further clarity on whether the loans were prepaid or replaced with new facilities.