ICRA reaffirms credit rating of Acrysil's debt instruments; stock jumps ~1%

13 Apr 2022 , 07:19 AM

Acrysil Limited informed that based on the periodic monitoring of ICRA assigned credit rating for the Long Term/ Short Term borrowing program of Acrysil Limited (the “Company”) undertaken by ICRA Limited after considering the announcement by the Company that Acrysil UK Limited (a wholly-owned subsidiary of the Company) has agreed to acquire 100% shares of Tickford Orange Limited, (UK) along with its wholly-owned operating subsidiary Sylmar Technology Limited, ICRA Limited has reaffirmed both the Long Term & Short Term credit rating of the Company.

ICRA has reaffirmed its long-term rating at ‘ICRA A’ with a stable outlook on the same. These instruments are worth Rs131.31 crore.

The company’s short-term ratings were reaffirmed at ‘ICRA A2+’ for instruments worth Rs10 crore.

So, the total bank facilities reviewed by the credit agency are worth Rs141.31 crore.

Acrysil’s stock is currently trading at Rs854.45 up by Rs6.25 or 0.74% from its previous closing of Rs848.20 on the BSE. It has touched intraday high and low of Rs864.35 and Rs826.20 respectively.