Intimation of Withdrawal of Credit Rating by ICRA Limited.
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Awaiting price reaction for this filing.
Real Growth Corporation informed BSE that ICRA Limited has withdrawn the credit rating assigned to the company's bank credit facilities. The company had requested the withdrawal after fully settling the said facilities with the bank. The withdrawn ratings covered a Long Term Fund-Based Cash Credit of Rs. 21.00 crore and a Long Term Non-Fund Based facility of Rs. 4.00 crore, totalling Rs. 25.00 crore. Since the underlying debt has been settled, the credit rating is no longer applicable and has been pulled back as per ICRA's policy.
This is a neutral-to-slightly-positive signal — the company has cleared its bank borrowings, reducing interest burden and financial risk. With no outstanding rated debt, the withdrawal is procedural rather than a rating action; however, it also means the company currently has no active credit lines from the rated bank facility.