Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Credit Rating
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CRISIL Ratings has reaffirmed the credit ratings of Kings Infra Ventures Limited. The company's total bank loan facilities of Rs. 50 crore (enhanced from Rs. 40 crore) carry a long-term rating of CRISIL BB/Stable and a short-term rating of CRISIL A4+, both reaffirmed. CRISIL has also assigned a CRISIL BB/Stable rating to the company's newly proposed Non-Convertible Debentures of Rs. 12.5 crore. All bank facilities are from Punjab National Bank and include cash credit, foreign bill discounting, letter of guarantee, long-term loan, and packing credit lines. CRISIL describes BB-rated securities as having 'moderate risk of default regarding timely servicing of financial obligations,' placing the company below the investment-grade threshold.
The reaffirmation of ratings signals stability in the company's credit profile, while the enhanced bank facility (up Rs. 10 crore) and new NCD rating suggest the company is expanding its borrowing capacity. Shareholders should note that the BB rating places Kings Infra in the speculative grade category, which typically means higher borrowing costs and indicates the company is not considered investment-grade by the rating agency.