Sandhar Technologies Limited has informed the Exchange about Credit Rating- Withdrawal of Credit ratings by ICRA at the request of the Company
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Sandhar Technologies has informed the exchanges that ICRA has withdrawn its credit ratings covering Rs. 735 crore of borrowings. This includes Rs. 150 crore of long-term fund-based term loans previously rated [ICRA]AA-(Stable) and Rs. 585 crore of long-term/short-term fund-based working capital facilities rated [ICRA]AA-(Stable)/[ICRA]A1+. The withdrawal was made at the request of the company, not due to any rating action. The company clarified that ratings from India Ratings & Research remain valid and in force, so the facilities are not necessarily closed.
No direct impact on shareholders — the ratings being withdrawn were investment grade (AA-), and the withdrawal was self-initiated. The other rating agency's ratings still cover the company's borrowings, so this is largely an administrative housekeeping step rather than a negative signal.