Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 - the company has obtained reaffirmation to the credit rating from ICRA.
ULTRAMAR · price
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Ultramarine & Pigments Ltd has received a reaffirmation of its credit rating from ICRA. The long-term rating of [ICRA]A+ with a Stable outlook was reaffirmed for fund-based limits, while the short-term rating of [ICRA]A1+ was reaffirmed for non-fund based facilities. Some limits were reassigned on enhancement, with Axis Bank's working capital (LC/BG) increased to Rs 15 crore and HSBC's combined working capital limits set at Rs 5 crore. The total amount rated across all facilities is Rs 37.6 crore, covering cash credit, term loans, and working capital limits from Axis Bank and HSBC.
The reaffirmation of strong investment-grade ratings (A+/A1+) signals that ICRA sees continued creditworthiness and financial stability, which is positive for lenders and investors. The enhanced limits also indicate growing banking confidence in the company.