Mastek Limited has informed the Exchange about Credit Rating
MASTEK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
ICRA Limited has reaffirmed Mastek's credit ratings across its bank facilities with no change in rating action. Long-term fund-based cash credit limits of Rs. 50 crore retain the [ICRA]AA- (Stable) rating, short-term non-fund based limits of Rs. 50 crore retain [ICRA]A1+, and a combined Rs. 6 crore facility retains [ICRA]AA- (Stable)/[ICRA]A1+. The total rated amount has reduced from Rs. 191.90 crore to Rs. 106 crore, primarily because the Rs. 85.90 crore long-term non-fund based facility is no longer being rated. AA- (Stable) indicates a high degree of safety on the long-term rating, and A1+ is the highest category for short-term instruments, reflecting strong creditworthiness.
Reaffirmation of strong investment-grade ratings signals stable credit health and no near-term refinancing concerns for shareholders. The reduction in total rated amount is not negative and may simply reflect changes in the facility mix rather than any deterioration.