Credit rating assigned and reaffirmed at ACUITE BBB Stable for bank facilities worth Rs 147 Cr
INCREDIBLE · price
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Acuite Ratings has assigned and reaffirmed credit ratings for Incredible Industries bank facilities worth Rs 147 Cr in total. New term loans of Rs 105 Cr from Bank of India and Central Bank of India received ACUITE BBB Stable (Assigned). Cash credit facilities of Rs 28 Cr across Canara Bank, BOI, PNB and a proposed line were reaffirmed at ACUITE BBB Stable. Short term letter of credit and bank guarantee facilities of Rs 14 Cr were reaffirmed at ACUITE A3 plus. BBB is investment grade with stable outlook.
Investment grade rating with stable outlook signals adequate financial health, supporting continued access to bank funding at existing costs