ICRA reaffirms long-term rating of Rane Holdings to ICRA AA-; stock down 2%

The company’s short-term rating is at ICRA A1+. The ratings are valid until November 22, 2021.

Nov 27, 2020 11:11 IST India Infoline News Service

ICRA Limited has reaffirmed long-term rating of Rane Holdings Limited as ICRA AA- on its existing Rs50cr bank facilities with outlook as ‘stable’.

Additional Rs50cr bank facilities have been assigned a long term rating of ICRA AA- with outlook as ‘stable’ and short-term rating of ICRA A1+.

“Rating Committee of ICRA, after due consideration, has reaffirmed the long -term rating for the captioned Line of Credit (LOC) at ICRA AA-. The Rating Committee of ICRA, after due consideration, has assigned a long-term rating of ICRA AA- and short-term rating of ICRA A1+ to the additional Rs50cr bank lines. The outlook on the long-term rating is stable. The aforesaid ratings are valid until November 22, 2021,” company shared in a regulatory filing on Thursday.

At around 11.02 am, Rane Holdings Ltd was trading at Rs477.45 per piece down Rs10.35 or  2.12% from its previous closing of Rs487.80 per piece on the BSE.

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