Credit Rating for Bank Guarantee facility of the Company from IDBI Bank
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Infomerics Valuation and Rating Limited has upgraded the credit rating for GMR Power and Urban Infra's Rs. 380 crore Bank Guarantee facility from IDBI Bank to IVR BBB/Stable. The previous rating has been improved, reflecting better operational and financial performance during FY2025 and FY2026. Additionally, the bank guarantee facilities from Union Bank of India have been withdrawn after the company received a no dues certificate following closure of those facilities. The total rated bank loan facilities now stand at Rs. 380 crore, reduced from Rs. 385.30 crore. The new rating is valid until May 27, 2027.
The rating upgrade signals improved creditworthiness and financial health of the company, which is positive for lenders and investors. The closure of Union Bank facilities without outstanding dues indicates responsible debt management.