Afcons Infrastructure Limited has informed the Exchange about Credit Rating
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Afcons Infrastructure has received credit ratings from CRISIL Ratings covering three instruments. CRISIL assigned a long-term rating of CRISIL AA-/Stable to the company's proposed Non-Convertible Debentures (NCDs) of Rs. 500 crore, a new debt instrument. The long-term rating on total bank loan facilities was reaffirmed at CRISIL AA-/Stable, with the rated limit enhanced from Rs. 21,960 crore to Rs. 25,460 crore — an increase of Rs. 3,500 crore. The short-term rating on the Rs. 500 crore Commercial Paper programme was also reaffirmed at CRISIL A1+, the highest short-term grade. All ratings carry a Stable outlook, indicating CRISIL's view that the company's credit profile remains solid and is unlikely to change in the near term.
Positive for shareholders — ratings were reaffirmed (not downgraded) at strong investment-grade levels, the company secured a larger bank loan envelope of Rs. 3,500 crore extra, and a new NCD instrument was rated, improving access to capital markets for future fundraising and growth.