CRISIL reaffirms Jain Irrigation rating at BBB- with Negative outlook
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CRISIL reaffirmed Jain Irrigation's bank loan facilities (Rs 2,705.91 crore) and NCDs (Rs 566.99 crore) at BBB- with Negative outlook for long-term and A3 for short-term. Ratings on redeemed NCDs worth Rs 218.64 crore and a Rs 5.16 crore bank facility were withdrawn. Negative outlook reflects Rs 449 crore debt due March 2027 against expected cash accruals of only Rs 200-220 crore. The company has a signed term sheet for Rs 800 crore refinancing, availed Rs 100 crore working capital from JDCC Bank, and repaid all dues up to September 2026.
Negative outlook flags persistent refinancing risk before March 2027 deadline; rating level unchanged but outlook remains weak, keeping sentiment cautious.