Eimco Elecon (India) Limited has informed the Exchange about Credit Rating- Revision
EIMCOELECO · price
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CRISIL Ratings has revised the credit rating on Eimco Elecon's bank facilities, upgrading the long-term rating from CRISIL A-/Positive to CRISIL A/Stable. The short-term rating has been reaffirmed at CRISIL A1. The total bank loan facilities rated amount to Rs. 101.5 Crore, spread across facilities from SBI, HDFC Bank, and Axis Bank including bank guarantees, cash credit, letter of credit, overdraft, and loan equivalent risk limits. The rating action reflects CRISIL's improved assessment of the company's credit profile, with the outlook changing from Positive to Stable. The letter was received by the company on 21st May 2025.
This is a positive development for shareholders, as the upgrade signals improved financial health and lower credit risk, potentially lowering the company's future borrowing costs. The reaffirmation of the short-term rating at A1 also indicates strong near-term repayment capability.