CRISIL reaffirms credit rating of Dai-Ichi Karkaria's debt instruments; stock down ~2%

26 Apr 2022 , 01:56 PM

Dai-Ichi Karkaria Limited informed that CRISIL has reviewed the ratings outstanding for the debt instruments/facilities of the company.

CRISIL has assigned ‘CRISIL BB’ ratings to the company’s long-term debt instruments. While short-term instruments were rated ‘CRISIL A4+’ by the rating agency.

It has reviewed total bank loan facilities worth Rs51 crore.

Long-term instruments include a Cash Credit facility worth Rs15 crore, Loan Equivalent Risk Limits worth Rs1 crore, Long Term Loan worth Rs22.20 crore, and Working Capital Term Loan worth Rs2.80 crore.

Short-term ratings were assigned to a Letter of credit & Bank Guarantee worth Rs10 crore.

The rating agency has also withdrawn the ratings assigned to the captioned Bank Loan facility worth Rs68 crore.

Dai-ichi Karkaria is currently trading at Rs353.15 down by Rs6.7 or 1.86% from its previous closing of Rs359.85 on the BSE. It touched intraday high and low of Rs367.70 and Rs353.15 respectively.