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ICRA assigns credit rating Rs46.32 crore of Remsons Industries bank facilities; Stock climbs 2.5%

The long-term rating has been assigned at BBB / Stable. The short-term rating has been assigned at ICRA A3.

April 01, 2022 2:08 IST | India Infoline News Service
ICRA Limited has assigned the credit rating for Rs46.32 crore of Remsons Industries Limited bank facilities. The long-term rating has been assigned at (ICRA) BBB-. Outlook on the long term rating is ‘Stable’. The short-term rating has been assigned at ICRA A3.

“The Rating Committee of ICRA, after due consideration, has reaffirmed the long-term rating at ICRA BBB- and the short-term rating of ICRA A3 assigned earlier for the bank facilities of your company and also assigned a long term and short term rating of ICRA BBB-  and the short-term rating of ICRA A3 to the enhanced bank loan facilities of your company. The Outlook on the long-term rating is Stable.

Instruments with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate credit risk,” company shared ICRA letter on Thursday.

At around 2.10 pm, Remsons Industries Ltd was trading at Rs187.05 per share up by Rs4.45 or 2.44% from its previous closing of Rs182.60 per share on the BSE.

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