Isgec Heavy Engineering Limited has informed the Exchange about Credit Rating
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Awaiting price reaction for this filing.
ICRA Limited has reaffirmed the credit rating of [ICRA]BBB (Stable) for Isgec Redecam Enviro Solutions Private Limited, a non-material subsidiary and joint venture of Isgec Heavy Engineering. The rating applies to a Rs. 20 crore non-fund based working capital facility (BG/LC/SBLC) from IDFC First Bank Limited. The rating remains unchanged from the prior communication dated January 17, 2025. The facility is rated on a long-term scale and will be due for surveillance within one year. Since this pertains to a non-material subsidiary and not the parent company directly, the financial impact on Isgec Heavy Engineering is limited.
Neutral for Isgec Heavy Engineering shareholders — the rating action relates to a non-material subsidiary, and the rating itself was reaffirmed with no change in grade or outlook. No material impact expected on the parent company's stock price or credit profile.