ICRA upgrades long-term credit rating on enhanced bank facilities of Triveni Turbine

28 Mar 2022 , 03:26 PM

ICRA Limited has upgraded/reaffirmed the credit rating for the following enhanced bank facilities (from Rs504.50 crore to Ra584.50 crore) of Triveni Turbine Limited.

The rating on long-term fund-based working capital limits Rs129.50 crore has been upgraded to ICRA AA (Positive) from ICRA AA- (Positive). On short-term non-fund based working capital (Rs450 crore) ICRA A1+ rating has been reaffirmed.

The credit agency also reaffirmed the rating on short-term non-fund-based unallocated bank limits Rs5 crore at ICRA A1+.

Towards close of trade on Monday, Triveni Turbine Ltd was trading at Rs193.35 per piece down by Rs9.55 or 4.71% from its previous closing of Rs202.90 per piece on the BSE.