M & B Engineering Limited has informed the Exchange about Credit Rating
MBEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
M & B Engineering Limited announced that CRISIL Ratings has upgraded its credit ratings on bank facilities totaling Rs. 470 crore. The long-term rating has been upgraded from 'CRISIL A-/Stable' to 'CRISIL A/Stable', while the short-term rating has been upgraded from 'CRISIL A2+' to 'CRISIL A1'. The rating covers facilities across multiple banks including HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, Bank of Baroda, and Standard Chartered Bank. The upgrade covers bank guarantees, cash credit, letter of credit limits, import letter of credit, and term loans.
This is a positive development for shareholders, as a higher credit rating indicates improved financial health and lower perceived default risk, which can reduce borrowing costs and improve access to credit.