Sobha Limited has informed the Exchange about Credit Rating- Revision
SOBHA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
ICRA has reaffirmed its [ICRA]AA- (Stable) rating on Sobha Limited's bank facilities totaling Rs. 3,387.90 crore, covering term loans (Rs. 1,622.90 crore), cash credit (Rs. 1,030 crore), non-fund based limits (Rs. 435 crore), and unallocated limits (Rs. 300 crore). The ratings apply to facilities from lenders including ICICI Bank, HDFC Bank, SBI, Axis Bank, RBL Bank, and others. The previously assigned rating of [ICRA]AA- (Stable) on proposed Non-Convertible Debentures (NCDs) has been reaffirmed and withdrawn, as no NCD borrowing was raised. The outlook remains 'Stable', indicating no change in the company's credit profile.
This is a neutral-to-slightly-positive development for shareholders, as the reaffirmation of the AA- rating signals that ICRA views Sobha's creditworthiness and debt-servicing ability as unchanged. Borrowing costs for the company should remain stable, with no negative rating action that could have pressured the stock.