Brickworks reaffirms rating on Jindal Worldwide's facilities worth Rs565.66 crore

18 Aug 2022 , 03:20 PM

Jindal Worldwide Limited informed that Brickwork Ratings Limited has reaffirmed the ratings assigned to the company’s bank facilities.

The rating agency has reaffirmed the ‘BRW AA-’ rating on Jindal’s long-term bank facilities worth Rs415.66 crore. Brickworks also reaffirmed the Stable outlook on its facilities.

Further, the rating agency has also reaffirmed ‘BWR A1+’ short-term rating on the company’s bank facilities worth Rs150 crore.

The ratings have been reaffirmed owing to the company’s strong group presence, improved financial performance, moderate financial risk profile, and adequate liquidity.

At around 3.18 PM, Jindal Worldwide was trading 0.32% higher at Rs218.50, as against the previous close of Rs217.80 on NSE. So far, it hit intraday high and low of Rs223.65 and Rs208.20 respectively.