Brickwork Ratings reaffirms SRG Housing Finance's long-term credit rating; stock jumps ~2.5%

10 Aug 2022 , 03:28 PM

SRG Housing Finance Limited informed that the credit rating agency Brickwork Ratings (BWR) has reaffirmed the Ratings of the Company for Non-Convertible Debentures. Further, it has withdrawn the rating of long-term bank facilities of the Company.

Brickwork has reaffirmed the long-term rating of the company’s Non-Convertible debentures to ‘BWR BBB’. The rating agency has given a Stable outlook to the same. These NCDs are worth Rs97.56 crore.

BWR also informed that it has withdrawn the rating assigned to the company’s fund-based facilities worth Rs255 crore. Earlier, these instruments were also assigned a ‘BWR BBB’ rating.

SRG Finance’s counter ended at Rs163.95, up by 2.47% against the previous close of Rs160 on BSE. So far, it hit intraday high and low of Rs164 and Rs158 respectively.