CRISIL reaffirms Jain Irrigation rating at BBB-/Negative, outlook stays negative
JISLDVREQS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CRISIL reaffirmed Jain Irrigation's credit ratings: long-term at BBB-/Negative and short-term at A3, covering Rs 2,930 crore bank loans and Rs 785.63 crore non-convertible debentures. Negative outlook persists due to elevated refinancing risk on about Rs 652 crore of NCD and ECB debt maturing in fiscal 2027. Company has signed a refinancing term sheet with a potential lender, closure targeted by end of August 2026, and prepaid about Rs 38 crore of debt due in September 2026.
Negative outlook retention signals ongoing refinancing stress; timely closure of the Rs 652 crore refinancing by end-August remains critical to avoid further rating action.