CRISIL reaffirms PVR Limited's long-term credit rating to ‘CRISIL A+/Stable'; stock up ~1%

24 Mar 2022 , 03:26 PM

CRISIL Ratings has revised its outlook on the long-term bank facilities and debt programmes of PVR Ltd (PVR) to ‘Stable’ from ‘Negative’ and has reaffirmed the ratings at ‘CRISIL A+/CRISIL PPMLD A+ r’. The ratings on the Rs50 crore long-term principal-protected market-linked debentures have been withdrawn as the same has been repaid. The withdrawal is in line with CRISIL Ratings’ withdrawal policy.

CRISIL has assigned ‘CRISIL A+’ ratings to Rs5 crore Non-convertible Debentures, Rs10 crore Non- convertible Debentures, Rs50 crore Non-convertible Debentures, Rs5 crore Non-convertible Debentures, and Rs30 crore Non-convertible Debentures.

It has assigned ‘CRISIL PPMLD A+ r’ ratings to Rs250 crore Long Term Principal Protected Market Linked Debentures and has given a stable outlook for the same.

Total bank facilities rated by the rating agency were worth Rs1033.33 crore and the overall long-term rating was assigned ‘CRISIL A+’ and a stable outlook.

The revision in outlook reflects a strong rebound in the operating performance of PVR during the third quarter of fiscal 2022.

PVR Ltd is currently trading at Rs1,773 up by Rs15.95 or 0.91% from its previous closing of Rs1,757.05 on the BSE. Its scrip touched day’s high and low of Rs1,782.55 and Rs1,750.75 respectively.