ICRA reaffirms AA rating on bank facilities worth Rs 689 crore
JTEKTINDIA · price
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ICRA has reaffirmed JTEKT India's long-term bank facilities rating at AA (Stable) and short-term rating at A1+. The rating covers Rs 689.14 crore of bank facilities including term loans, cash credit and fund-based and non-fund-based limits from SBI, Standard Chartered Bank, MUFG, Sumitomo Mitsui Banking Corporation and Mizuho Bank. The term loan rating of Rs 509.29 crore was reaffirmed and assigned for an enhanced amount, while all other limits were reaffirmed at the same ratings. Surveillance review is due within one year.
Stable high investment grade rating reaffirmed across all bank facilities indicates strong credit profile and continued easy access to bank funding. Positive signal for shareholders.