Ind-Ra affirms IND A+ rating on IRB Infra bank facilities; Stock gains over 2%

The rating on non–fund based bank facilities were affirmed at IND A+/Negative/IND A1+. The outlook was revised to Negative.

Jul 22, 2021 11:07 IST India Infoline News Service

IRB Infrastructure Developers
India Ratings and Research (Ind-Ra) has affirmed IRB Infrastructure Developers Limited (IRB Infra) long-term Issuer Rating at ‘IND A+’.  The rating on non–fund based bank facilities Rs1,200cr was affirmed at IND A+/Negative/IND A1+. The outlook was revised to Negative.

The credit rating agency affirmed A+/Negative/IND A1+rating on term-loan Rs1,231.53cr. Outlook revised to Negative. The rating on Non-Convertible Debenture (NCDs) Rs1,250cr has been affirmed at IND A+/Negative. Outlook revised to Negative.

At around 11.41 AM, IRB Infrastructure Developers Ltd was trading at Rs177.85 per piece up by Rs3.95 or 2.27% from its previous closing of Rs173.90 per piece on the BSE.
The scrip opened at Rs184.20 and has touched a high and low of Rs184.20 and Rs175.55 respectively, during intraday trade on Thursday. 

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