Ind-Ra affirms Rico Auto’s long-term issuer rating at IND A- while resolving RWN

The Outlook is Stable. The rating on non-fund based working capital credit limits Rs22.5cr has been affirmed at IND A-/Stable/IND A2+ (Off RWN).

Apr 05, 2021 10:04 IST India Infoline News Service

News Newspaper Text
India Ratings and Research (Ind-Ra) has affirmed Rico Auto Industries Limited’s (Rico) Long-Term Issuer Rating at ‘IND A-’ while resolving the Rating Watch Negative (RWN). The Outlook is Stable, the company said in a regulatory filing on Saturday.

The credit rating agency affirmed IND A-/Stable (off RWN) on the company’s Term loan FY27 Rs292cr. The rating on fund-based working capital limit - Rs205cr has been affirmed at IND A-/Stable/IND A2+ (Off RWN).

The rating on non-fund based working capital credit limits Rs22.5cr has been affirmed at IND A-/Stable/IND A2+ (Off RWN). The rating on term loan/letter of credit FY22 Rs20cr has been affirmed at IND A-/Stable (Off RWN).

At around 10.20 am, Rico Auto Industries Ltd was trading at Rs35.80 per piece down Rs1.90 or 5.04% from its previous closing of Rs37.70 per piece on the BSE.

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