ICRA upgrades credit rating to A+ Stable on Rs 1,470 crore facilities
MTARTECH · price
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On the reaction day the stock moved 0.4 pts less than Nifty Microcap 250 and 1.2 pts less than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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ICRA has upgraded MTAR Technologies' long-term credit rating from A (Stable) to A+ (Stable) on its bank facilities, while reaffirming the short-term rating of A1. The upgrade covers Cash Credit of Rs 530 crore, Term Loan of Rs 248.24 crore, Non-Fund Based limits of Rs 304 crore, and Unallocated limits of Rs 387.76 crore, totalling Rs 1,470 crore. Ratings were also assigned for the enhanced facility amounts, indicating greater sanctioned credit lines from lenders.
Positive for shareholders; signals stronger financial health and lower borrowing cost, likely improving lender confidence in the company.