Intimation of Credit Rating under SEBI (LODR), 2015
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India Ratings and Research has affirmed the credit rating on Relicab Cable Manufacturing Ltd's bank loan facilities worth INR 130 million at IND BB (long-term) with a Stable outlook and IND A4+ (short-term). The facilities include cash credit of INR 35 million, letter of credit of INR 85 million, term loan of INR 7.33 million, and a proposed term loan of INR 2.67 million, all with Union Bank of India. The rating action is an 'affirmation,' meaning there is no change from the previous rating. The Stable outlook suggests the rating agency does not expect any near-term change in credit quality.
The affirmed rating with a Stable outlook signals no change in the company's credit profile — neither improvement nor deterioration. However, the IND BB grade places the company in the speculative (non-investment-grade) category, which typically means higher borrowing costs and limited access to low-cost institutional funding. Shareholders should note this reflects ongoing sub-investment-grade credit quality, though stability reduces immediate default risk concerns.