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ICRA reaffirms credit rating for Rs100cr bank lines of Rane Holdings

The credit rating agency has reaffirmed the long-term rating for the company at ICRA AA- with a Stable outlook.

November 30, 2021 3:16 IST | India Infoline News Service
The Rating Committee of ICRA Limited, after due consideration, has reaffirmed the long-term rating for Rane Holdings Limited Rs86.70cr Line of Credit (LOC) at ICRA AA-. The outlook on the long-term rating is Stable. The short-term rating for Rs13.30cr bank facilities has been reaffirmed at ICRA A1+.

“Instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. The aforesaid ratings are valid until November 24, 2022,” the company said in a filing on Tuesday.

Towards close of trade on Tuesday, Rane Holdings Ltd was trading at Rs580 per piece down by Rs1.65 or 0.28% from its previous closing of Rs581.65 per piece on the BSE.

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