Brigade Enterprises Limited has informed the Exchange about Credit Rating
BRIGADE · price
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ICRA Limited has upgraded Brigade Enterprises' long-term credit rating from AA- (Stable) to AA (Stable) for bank facilities totaling Rs. 2,750 crore, including term loans of Rs. 2,405 crore and unallocated limits of Rs. 345 crore. The short-term rating of A1+ for cash credit/overdraft facilities of Rs. 250 crore has been reaffirmed. The upgrade reflects improved creditworthiness, with the rating action based on a review of the company's overall debt profile with multiple lenders including SBI, Indian Bank, HSBC, Axis Bank, and others.
Positive signal for shareholders — the rating upgrade to AA from AA- indicates stronger financial health and lower borrowing risk, which may help the company secure loans at more favorable interest rates going forward.