Crisil upgrades Halder Venture to BBB-/Stable, drops ISSUER NOT COOPERATING tag
HALDER · price
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Crisil has upgraded Halder Venture's long-term bank facility rating to Crisil BBB-/Stable from Crisil BB+/Stable, and removed the ISSUER NOT COOPERATING tag. Short-term rating reassigned as Crisil A3. Total bank facilities rated stand at Rs 387.27 crore, covering cash credit and term loans from SBI, PNB, Bank of India, Axis Bank, ICICI, Union Bank, Central Bank and Bank of Baroda. The upgrade reflects improved credit profile and renewed cooperation with the rating process.
Positive: upgrade from BB+ to BBB- moves the firm into investment grade territory and removes the ISSUER NOT COOPERATING tag, improving borrowing prospects.