ICRA Limited has reaffirmed the credit ratings for SOBHA Limited’s long-term instruments. The ratings for long-term fund-based term loans, cash credit, and non-fund-based others remain at [ICRA]AA- (Stable). However, the [ICRA]AA- (Stable) rating assigned to the proposed long-term NCDs has been withdrawn. This rating update reflects ICRA’s assessment of SOBHA’s creditworthiness.
ICRA Reaffirms Ratings
ICRA Limited has reaffirmed the [ICRA]AA- (Stable) ratings for several of SOBHA Limited’s long-term instruments, providing a stable outlook on the company’s credit profile. The announcement was made on December 30, 2025.
Ratings Details
The reaffirmed ratings apply to the following:
- Long Term – Fund Based Term Loan: [ICRA]AA- (Stable) reaffirmed for enhanced amount.
- Long Term – Fund Based Cash Credit: [ICRA]AA- (Stable) reaffirmed.
- Long Term – Non-Fund Based Others: [ICRA]AA- (Stable) reaffirmed.
- Long term -Unallocated Limits: [ICRA]AA- (Stable) reaffirmed.
NCD Rating Withdrawn
The rating for Long-term – Proposed NCDs has been withdrawn. The previous rating was [ICRA]AA- (Stable). The reason for the withdrawal was not disclosed in the announcement.
Bank Facilities Details
The bank facilities rated amount to ₹3,387.90 crore. This includes term loans, cash credit, and non-fund based limits. ICRA has assigned and reaffirmed the ratings on December 23, 2025.
Source: BSE
