Cyient Dlm Limited has informed the Exchange about Credit Rating
CYIENTDLM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CRISIL has reviewed and revised its ratings on Cyient DLM's bank facilities totaling Rs. 503 crore, enhanced from Rs. 468 crore earlier. The long-term rating has been migrated from CRISIL AA (CE)/Stable to CRISIL A+/Positive on a standalone basis, meaning the previous Credit Enhancement suffix has been dropped. The short-term rating has similarly moved from CRISIL A1+ (CE) to CRISIL A1. Bank-wise ratings cover cash credit and letter of credit/guarantee facilities with ICICI Bank, HDFC Bank, Axis Bank, Federal Bank, and Shinhan Bank. The outlook on the long-term rating is Positive, indicating expectations of improvement.
While the removal of the Credit Enhancement tag lowers the headline rating from AA to A+, the standalone A+ rating with a Positive outlook reflects good credit quality on its own merits. Shareholders should note that despite the technical rating downgrade, the company secured an expanded credit line of Rs. 35 crore more, suggesting lenders remain comfortable with its financial health.