CORRECTION OF DATE 24.04.2025 INSTEAD OF 24.04.2024 IN CREDIT RATING AGENCY ANNOUNCEMENT SUBMITTED TODAY.
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Awaiting price reaction for this filing.
True Green Bio Energy Ltd submitted a correction to its earlier announcement, noting the date was mistakenly typed as 24.04.2024 instead of 24.04.2025. The actual news is that Infomerics Valuation and Rating Limited has reaffirmed the company's long-term credit rating at IVR BBB-/Stable (Triple B Minus with Stable Outlook), unchanged from the previous rating. The rating covers Rs. 250 crore of long-term fund-based bank facilities, comprising a Rs. 150 crore term loan from Indian Bank and a Rs. 100 crore term loan from State Bank of India, both repayable over 96 monthly instalments up to March 2034. The rating was based on FY24 audited results and 9MFY25 provisional financials, and remains valid for one year from April 18, 2025.
No change in credit rating — this is a status-quo reaffirmation, so there is no immediate positive or negative impact on shareholders or the stock. Investors should note the rating is at the lower end of investment grade (BBB-), indicating moderate credit risk on the company's debt servicing.