Polyplex Corporation Limited has informed the Exchange about Credit Rating
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India Ratings and Research (Ind-Ra) has affirmed Polyplex Corporation's bank loan rating at IND AA-/Stable for long-term and IND A1+ for short-term facilities. The rating action covers total bank loan facilities of Rs. 8,670 million spread across lenders including HDFC Bank, Axis Bank, IDBI Bank, DBS Bank, Yes Bank, ICICI Bank, and CTBC Bank. While most existing facilities were 'affirmed,' a new term loan of Rs. 3,470 million (Rs. 2,800 million from HDFC Bank and Rs. 670 million from Axis Bank) was newly 'assigned' the same rating. The AA- category with a Stable outlook indicates a high degree of safety and the borrower's strong capacity to meet financial commitments.
No change in credit quality — the rating affirmation signals steady financial health and easy access to bank funding. The fresh term loan of Rs. 347 crore being rated at AA- shows lenders remain comfortable extending new credit to Polyplex, which is a mildly positive signal for shareholders.