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ICRA reaffirms 'AA /Stable' rating on existing bank facilities of Triveni Engineering; Stock soars 3.5%

The credit rating agency also reaffirms the ICRA A1+ rating on an enhanced commercial paper limit of the company.

January 19, 2022 12:54 IST | India Infoline News Service
ICRA Limited has reaffirmed existing bank facilities & enhanced the commercial paper limit of Triveni Engineering & Industries Limited. The rating on Fund Based Working Capital Limits (Long Term) Rs1565cr has been reaffirmed at ICRA AA (Stable). For Term Loans (Long Term) Rs287.65cr, ICRA AA (Stable) rating has been reaffirmed.

The credit rating agency has also reaffirmed ICRA A1+ rating on Non-Fund Based Working Capital Limits (Short Term) Rs593.44cr. On Long Term / Short Term (Unallocated bank limits) Rs64.28cr ICRA AA (Stable) / ICRA, A 1+ has been reaffirmed.

On Commercial Paper (Short Term) Rs200cr (enhanced from Rs50cr) ICRA A1+ rating has been reaffirmed.

At around 12.58 pm, Triveni Engineering and Industries Ltd was trading at Rs262.55 per piece up by Rs8.95 or 3.53% from its previous closing of Rs253.60 per piece on the BSE.

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