Sammaan Capital Limited has informed the Exchange about Credit Rating- Revision
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CRISIL, a company of S&P Global, has upgraded Sammaan Capital's long-term debt programme rating to CRISIL AA+/Stable. This is the first rating upgrade by a domestic rating agency in nearly a decade (since 2017). The upgrade follows International Holding Company (IHC) acquiring a controlling stake in the company through its subsidiary Avenir Investment RSC Ltd. CRISIL cited the company's strategic importance to the IHC Group, strong capitalisation, robust buffers, and pivot to growth as key reasons for the upgrade. The short-term commercial paper and NCD ratings were reaffirmed at CRISIL A1+.
The upgrade signals a strong improvement in the company's creditworthiness and financial health, driven by IHC's strategic investment. This is a positive development for shareholders, as it reflects better access to capital markets and potentially lower borrowing costs going forward.