21 Mar 2022 , 11:04 AM
India Ratings and Research (Ind-Ra) has downgraded Sanghi Industries Limited’s (SIL) Long-Term Issuer Rating to ‘IND A-’ from ‘IND A’. The Outlook is Negative.
The rating on Term Loan Rs794.50 crore (reduced from Rs837 crore) was downgraded from IND A/Negative to IND A-/Negative. For Non-Convertible Debentures Rs305 crore, the rating was downgraded from India A / Negative to IND A- / Negative.
The credit rating agency also downgraded the rating on Fund Limits based limits Rs285 crore from IND A/Negative to IND A-/Negative. For Non fund based limits Rs40 crore, rating has been downgraded from IND A1 to IND A2+.
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