Garware Technical Fibres Limited has informed the Exchange about Credit Rating
GARFIBRES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
ICRA Limited has reaffirmed the credit ratings assigned to Garware Technical Fibres Limited's bank facilities. The company retains its long-term rating of [ICRA]AA+ with a Stable outlook and short-term rating of [ICRA]A1+. The ratings cover working capital facilities totalling Rs. 400 crore spread across seven banks, including ICICI Bank, Bank of Baroda, Citibank, HDFC Bank, Bank of India, DBS Bank, and HSBC. The rating action was communicated on April 1, 2025, and the company intimation was sent to exchanges on April 2, 2025. A reaffirmation means the rating agency sees no change in the company's credit profile since the last review.
This is a neutral-to-positive signal for shareholders. The AA+ rating is a high investment-grade rating, reflecting strong financial health and low default risk. The Stable outlook suggests ICRA expects the company's credit profile to remain steady, which supports borrowing costs and lender confidence.