ICRA revises credit rating of Indotech Transformers debt facilities worth Rs139 crore

9 Mar 2022 , 04:15 PM

In its exchange filing today, Indotech Transformers Ltd. informed the investors that the credit rating agency ICRA Ltd. has revised the ratings for the company’s long-term and short-term debt instruments worth Rs139 crore.

It has upgraded the rating for Long-term Fund-based Cash Credit worth Rs16 crore (enhanced) to “ICRA BB+” and has given a positive outlook for the same from earlier ICRA BB (Stable).

Short-term non-fund based instrument rating has been upgraded to “ICRA A4+” from existing “ICRA A4” ratings.

Long-term loans worth Rs8 crore have been assigned a credit rating of “ICRA BB+” with a positive outlook.

Short-term unallocated instruments worth Rs23.50 crore have been rated “ICRA A4+” against existing “ICRA A4”. Whilst CEL limits have been rated “ICRA BB+”.

Indo Tech Transformers ended at Rs218.50 up by Rs1.55 or 0.71% from its previous closing of Rs216.95 on the BSE.