Crisil has re-affirmed its credit rating for Company's enhanced bank loan facilities of Rs.1085 crores (earlier Rs.910.51 crores).
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CRISIL has re-affirmed its credit ratings on Rane (Madras) Limited's bank loan facilities, which have been enhanced from Rs. 910.51 crores to Rs. 1,085 crores. The long-term facility rating remains unchanged at 'CRISIL A+/Stable', indicating a strong capacity to meet financial commitments. The short-term facility rating stays at 'CRISIL A1', reflecting the highest level of safety for short-term obligations. The enhanced limit signals greater access to working capital and term loans from banks such as HDFC, SBI, Standard Chartered, ICICI, Axis, DBS, Bank of Baroda, Kotak, and Exim Bank.
Positive for shareholders — ratings being re-affirmed at investment grade levels despite a higher borrowing limit reflect continued lender confidence in the company's creditworthiness. The larger facility improves financial flexibility for operations and growth, with no adverse impact on borrowing cost.