Credit Rating assigned by ICRA Ltd
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
ICRA has reaffirmed its credit ratings on Andhra Petrochemicals Ltd's borrowing limits totalling Rs.94.18 crore, but revised the outlook on the long-term portions to Negative from Stable. The long-term ratings on the Rs.57.18 crore unallocated limits and Rs.35.00 crore cash credit facility stand at ICRA A-, while the short-term rating on Rs.2.00 crore non-fund based limits is reaffirmed at ICRA A2+. The rating action means the company has not been downgraded, but ICRA sees a possible risk of a downgrade if conditions worsen.
Shareholders should note that while the rating itself is unchanged, the Negative outlook signals that the company's financial health may be under pressure and a future downgrade cannot be ruled out. This could increase borrowing costs going forward and is mildly negative for the stock.