Ind-Ra rates Sarda Energy's credit facilities worth Rs920cr at ‘A'; stock gains 1%

10 Mar 2022 , 12:55 PM

Sarda Energy & Minerals Ltd. informed the investors and exchanges, through its regulatory filing on Thursday, that credit rating agency India Ratings Ltd. (Ind-Ra) has assigned fresh ratings for the credit facilities of the company’s wholly-owned subsidiary – Madhya Bharat Power Corporation Ltd (MBPCL).

MBPCL’s total credit facilities are worth Rs970 crore.

India Ratings has assigned “Ind A” ratings to the company’s term loans worth Rs920 crore and has set a stable outlook for the same. While credit ratings to fund-based limits worth Rs20 crore, non-fund-based limits have been assigned ‘Ind A2+’ ratings with a stable outlook.

Earlier, CARE ratings assigned ‘CARE-BB’ ratings to the company’s facilities with a positive outlook.

Sarda Energy & Minerals is currently trading at Rs967.85 up by Rs10.7 or 1.12% from its previous closing of Rs957.15 on the BSE. The scrip touched an intraday high and low of Rs981.60 and Rs950.70 respectively.