Ind-Ra revises 'Positive' outlook of JK Paper's long-term bank facilities; stock gains ~1%

1 Sep 2022 , 03:00 PM

JK Paper Limited informed that the rating agency India Ratings and Research (lnd-Ra) has revised Company’s Outlook to Positive from Stable and affirmed its long-term issuer rating at ‘IND AA-’.

The rating agency has affirmed the ‘IND AA-’ rating to company’s term loan worth Rs314 crore. It has revised the outlook to ‘Positive’. The amount of the term loan has been reduced from Rs326 crore to Rs314 crore.

Ind-Ra reviewed the company’s instruments including fund-based limits worth Rs250 crore, non-fund-based limits worth Rs370 crore, and term deposits worth Rs30 crore.

Ind-Ra has affirmed the ‘IND A1+’ rating on the company’s commercial paper worth Rs100 crore.

At around 3.03 PM, JK Paper was trading at Rs423.65 up by 0.97% from its previous closing of Rs419.60 on the BSE. The scrip touched day’s high and low of Rs433 and Rs420.30 respectively, so far.

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