Afcons Infrastructure Limited has informed the Exchange about Credit Rating
AFCONS · price
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Awaiting price reaction for this filing.
Afcons Infrastructure had earlier requested ICRA to withdraw the credit rating on its entire bank loan facilities. ICRA's policy requires No Objection Certificates (NOCs) from all lending banks before withdrawal. The company has secured NOCs from most banks, but one bank with sanctioned facilities of ₹1,415 Crores is yet to provide its NOC due to internal approval delays. In the interim, ICRA has reaffirmed the existing ratings: A+ (Stable) on long-term fund-based facilities of ₹1,900 Crores, A+ (Stable) on term loans of ₹970 Crores, A+ (Stable) on long-term non-fund-based facilities of ₹17,490 Crores, and A1 on short-term non-fund-based facilities of ₹1,600 Crores.
For shareholders, this is largely a neutral event — the rating is unchanged with a Stable outlook, indicating ICRA sees no change in the company's credit health. The pending withdrawal is administrative in nature and will only complete once the last bank's NOC is received.