Credit rating affirmed at AA/Stable, NCD rating withdrawn post full redemption
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India Ratings affirmed Sheela Foam's bank loan facilities rating at IND AA/Stable/IND A1+ for existing Rs 700 crore and assigned the same rating to additional Rs 180 crore bank loan facilities. The IND AA/Stable rating on Rs 181.25 crore non-convertible debentures has been withdrawn as these debentures have been fully redeemed.
Reaffirmed high investment grade rating signals strong credit health; full NCD redemption reduces outstanding debt.