ICRA reaffirms AA-/Stable rating on fund and non-fund based limits of KEC International; Stock up 1%

The rating on Fund Based term loan (rated on long term scale) Rs150 Crore was assigned ICRA AA- (Stable).

Jun 17, 2021 12:06 IST India Infoline News Service

ICRA Limited on Wednesday has reaffirmed/ assigned credit ratings to the following Bank facilities of KEC International Limited.

The rating on Fund Based Limits (rated on long term scale) Rs2,400cr has been reaffirmed at ICRA AA- with a Stable outlook. On Fund/Non-Fund Based Limits (rated on long term & short term scale) Rs14,600cr, the rating was reaffirmed at ICRA AA- (Stable).

The credit rating agency also reaffirmed ICRA AA- (Stable) rating on Fund Based Limits - External Commercial Borrowing (Foreign Currency Term Loan) USD 20 million. The rating on Fund Based term loan (rated on long term scale) Rs150 Crore was assigned ICRA AA- (Stable). On Fund/Non- Fund Based Limits (rated on short term scale) Rs850cr ICRA A1+ rating was reaffirmed.

Ata round 12.17 PM, K E C International Ltd. was trading at Rs407.35 per piece up by Rs4.65 or 1.15% from its previous closing of Rs402.70 per piece on the BSE.

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