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Uflex receives ‘BWR AA-/Stable’ rating from Brickwork on bank loan facilities worth Rs440Cr

CRISIL has has upgraded credit rating to ‘CRISIL AA- / Stable / CRISIL A1+' of the company.

April 07, 2022 3:21 IST | India Infoline News Service
Uflex Limited has informed that the Brickwork Ratings assigns the ratings of BWR AA- (Stable) for the long-term Bank Loan Facilities of Rs440 crore of the company.

BWR has reviewed the term loans worth Rs100 crore of Indian Overseas Bank. The rating agency has also reviewed the term loan of Rs50 crore of Bank of Bahrain & Kuwait, and the term loan of Punjab National Bank worth Rs290 crore.

So, the total bank facilities from three different banks sum up to Rs440 crore.

Meanwhile, CRISIL has has upgraded credit rating to ‘CRISIL AA- / Stable / CRISIL A1+' of UFLEX Limited on total bank loan facilities rated Rs1980 crore. 
The long-term rating of CRISIL AA / Stable has been upgraded from 'CRISIL A+ / Stable’. For short-term rating CRISIL A 1+ (Upgraded from 'CRISIL A1).

Uflex’s counter dipped 4.37% so far in today’s trade at Rs645.50 against its previous close of Rs675. It touched intraday high and low of Rs689.50 and Rs644.25 respectively.

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