Subros Limited has informed the Exchange about Credit Rating- Others
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ICRA Limited has assigned a rating of [ICRA]AA (Stable) on a new Rs. 40 crore long-term term loan from HDFC Bank. All other existing bank facilities, totaling Rs. 265 crore, have been reaffirmed at [ICRA]AA(Stable) for long-term and [ICRA]A1+ for short-term exposures. The combined rated bank facilities now stand at Rs. 305 crore, up from Rs. 265 crore previously. [ICRA]AA indicates a high safety on the instrument, while [ICRA]A1+ is the highest short-term rating, reflecting strong creditworthiness. The ratings are due for surveillance within one year.
This is a neutral-to-positive development for shareholders. The reaffirmation of AA rating with Stable outlook signals continued strong financial health and easy access to bank funding. The new Rs. 40 crore term loan indicates the company is expanding its borrowing, possibly to fund growth or capex needs, on favorable terms.