ICRA Limited has reaffirmed the credit ratings for Subros Limited’s various debt instruments. The long-term fund-based term loan facility of ₹140 crore has been reaffirmed at [ICRA]AA (Stable), with the assignment for an enhanced amount. The short-term non-fund based facilities of ₹50 crore were reaffirmed at [ICRA]A1+. Combined, the total bank facilities now stand at ₹370 crore.
Credit Rating Actions for Subros Limited
ICRA Limited has officially announced the reaffirmation of credit ratings for key debt instruments of Subros Limited. This action follows the company’s intimation to the stock exchanges regarding the ratings assigned by ICRA.
Facility-wise Rating Details
The ratings indicate a stable outlook for the company’s long-term borrowings. Specifically:
- The Long Term / Fund based – Term Loan, previously rated at ₹40.00 crore, has been enhanced and now stands at ₹140.00 crore, with its rating reaffirmed as [ICRA]AA (Stable).
- The Short Term – Non Fund Based facility of ₹50.00 crore has been reaffirmed at [ICRA]A1+.
- The Long Term / Short Term – Fund based – Cash Credit facility of ₹80.00 crore has been reaffirmed at [ICRA]AA(Stable)/[ICRA]A1+.
- The Long Term / Short Term – Fund Based / Non Fund Based facilities totaling ₹100.00 crore have also been reaffirmed at [ICRA]AA (Stable)/ [ICRA]A1+.
- An unallocated facility of ₹35.00 crore is also noted.
The aggregate total bank facilities for Subros Limited now stand at ₹370.00 crore, an increase from the previous total of ₹305.00 crore.
ICRA’s Outlook and Company’s Compliance
ICRA has maintained a stable outlook for the reaffirmed long-term ratings, indicating their expectation of continued financial stability for Subros Limited. The company has informed that this information will also be available on its website. The intimation is pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Source: BSE
