ICRA revises outlook to ‘Stable' on Ashok Leyland's facilities worth Rs5,568.75 crore; stock zooms ~2%

28 Oct 2022 , 10:30 AM

Ashok Leyland Limited informed that the rating agency ICRA Limited has reaffirmed the rating on various instruments of the company. It has also revised the outlook from ‘Negative’ to ‘Stable’ on such bank facilities.

ICRA has reaffirmed the ‘ICRA A1+’ rating on the company’s Commercial paper worth Rs2,000 crore.

Further, rating on non-convertible debentures, fund-based limits, non-fund-based limits, term loans, and unallocated facilities has been reaffirmed at ‘ICRA AA’. The outlook on these instruments has been revised to ‘Stable’ from earlier ‘Negative’.

ICRA has reviewed total bank facilities worth Rs5,568.75 crore that includes NCDs worth Rs850 crore, fund-based limits worth Rs2,000 crore, non-fund-based limits worth Rs1,200 crore, term loans worth Rs1,318.75 crore and unallocated facilities worth Rs200 crore.

At around 10.33 AM, Ashok Leyland was trading at Rs150.30 up by 1.62% from its previous closing of Rs147.90 on the BSE. The scrip opened at Rs147.55 and touched intraday high and low of Rs150.45 and Rs147.55 respectively.

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