Triveni Engineering & Industries Limited has informed the Exchange about Credit Rating
TRIVENI · price
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ICRA Limited has reaffirmed credit ratings for Triveni Engineering & Industries Ltd's bank facilities and commercial paper programme. Long-term ratings of ICRA AA+ (very high safety) were reaffirmed for a term loan of Rs. 326.93 crore and working capital facilities of Rs. 1,825 crore. Short-term ratings of ICRA A1+ (highest safety) were reaffirmed for non-fund based working capital facilities of Rs. 958.44 crore and commercial paper programmes totaling Rs. 300 crore. The total rated amount is Rs. 3,410.37 crore. Critically, ICRA removed the ratings from 'rating watch with developing implications' and assigned a stable outlook, indicating resolution of previously flagged concerns.
The removal from rating watch and assignment of a stable outlook signals creditworthiness improvement, which could lower borrowing costs and strengthen lender/investor confidence. This is a positive signal for bondholders and shareholders.