SRM Contractors Limited has informed the Exchange about Credit Rating- Revision
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Awaiting price reaction for this filing.
SRM Contractors Limited has received a credit rating upgrade from CareEdge Ratings based on its FY25 (provisional) operational and financial performance. The Long Term Bank Facilities of Rs. 6.90 crore have been upgraded from CARE BBB+; Stable to CARE A-; Stable. The Long Term/Short Term Bank Facilities of Rs. 223.50 crore have been upgraded from CARE BBB+; Stable / CARE A3+ to CARE A-; Stable / CARE A2. Total rated bank facilities stand at Rs. 230.40 crore across HDFC Bank, ICICI Bank, and Yes Bank, with an additional Rs. 11 crore proposed limit.
This is a positive development for shareholders, reflecting improved creditworthiness and stronger financial performance, which could lead to lower borrowing costs for the company. Rating upgrades typically boost investor confidence and may support the stock price.