PNC Infratech Limited has informed the Exchange about Credit Rating
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PNC Infratech's subsidiary Hathras Highways Private Limited received a credit rating upgrade from CARE Ratings. The long-term bank facility (term loan) of Rs. 378.27 crore was upgraded from CARE A; Stable to CARE AA; Stable. The bank guarantee facility of Rs. 16.03 crore was fully withdrawn, bringing total long-term bank facilities down from Rs. 402.03 crore to Rs. 378.27 crore. The term loan outstanding also reduced from Rs. 386.00 crore to Rs. 378.27 crore, indicating partial debt repayment.
This is a positive development for PNC Infratech, as the upgrade to AA from A reflects improved creditworthiness of its subsidiary, potentially lowering future borrowing costs and boosting investor confidence in the company's project execution and financial discipline.