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CRISIL withdraws ratings on bank facilities of GP Petroleums; Stock slips 1.5%

The credit rating agency withdrew the rating at the request of the company and pursuant to submission of No Objections from the Bankers of the company.

November 17, 2021 12:16 IST | India Infoline News Service
GP Petroleum
GP Petroleums Limited informed the exchanges that at the request of the company and pursuant to submission of No Objections from the Bankers of the company, the credit ratings are given by Crisil Ratings Limited (CRISIL) on the Bank facilities of the company has been withdrawn.

“This is in relation to your letter dated October 30, 2021, requesting CRISIL Ratings to withdraw its outstanding rating on the captioned bank loan facilities. CRISIL Ratings has, after due consideration, withdrawn the ratings assigned to the captioned bank loan facility/ies,” the company shared CRISIL’s mail.

At around 12.18 pm, GP Petroleums Ltd was trading at Rs47.20 per piece down by Rs0.75 or 1.56% from its previous closing of Rs47.95 per piece on the BSE.

The details of these facilities are given below.
  • Total Bank Loan Facilities Rated Rs.220 Crore
  • Long Term Rating CRISIL BB-/Stable (Issuer Not Cooperating; Rating Withdrawn)
  • Short Term Rating CRISIL A4+ (Issuer Not Cooperating; Rating Withdrawn)

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