ICRA reaffirms credit rating of National Fertilizers' debt instruments worth Rs8,044 crore

19 Apr 2022 , 10:57 AM

National Fertilizers Limited has informed that the credit rating agency ICRA Limited has reaffirmed the credit rating assigned to various debt instruments of the company.

ICRA has reaffirmed the rating at ‘ICRA AA-/Stable’ for the company’s long-term fund based limits worth Rs4,000 crore. It also reaffirmed that rating for term loans worth Rs1,044 crore at ‘ICRA AA-/Stable’.

The rating agency has reaffirmed the ‘ICRA A1+’ rating for the company’s short-term fund based facilities worth Rs3,000 crore, and commercial paper worth Rs4,000 crore.

The reaffirmation of the ratings for the credit lines of National Fertilizers Limited (NFL) factor in the leadership position in the fertiliser industry, improvement in the receivables cycle of the company owing to the timely release of subsidy by the GoI in FY2022, and expectation of the same continuing in the future as well.

National Fertilizer is currently trading at Rs62.15 up by Rs0.05 or 0.08% from its previous closing of Rs62.10 on the BSE. The scrip opened at Rs62.30 and has touched intraday high and low of Rs63.55 and Rs62.05 respectively.