Brigade Enterprises Limited has announced that its wholly-owned material subsidiary, Mysore Projects Private Limited (MPPL), has been assigned a credit rating for its bank facilities. Care Ratings Limited assigned a rating of ‘CARE A+; Stable’ for the ₹100 crore Long Term Bank Facilities. This assignment, dated February 16, 2026, indicates a high degree of safety regarding the timely servicing of financial obligations for MPPL’s credit line.
Credit Rating Update for Subsidiary
Brigade Enterprises Limited formally informed the stock exchanges regarding a significant development concerning its wholly-owned material subsidiary, Mysore Projects Private Limited (MPPL). This notification relates to the credit rating assigned to the bank facilities availed by MPPL.
Details of Assigned Rating
The assessment was conducted by Care Ratings Limited. The core details of the rating assignment are summarized as follows:
- Instrument: Long Term Bank Facilities
- Rated Amount: ₹100 crore (Rupees in crores)
- Rating Assigned: CARE A+; Stable
- Rating Action: Assigned
This rating action signifies that the facilities carry ‘high degree of safety’ regarding timely servicing of financial obligations, as per the rating structure. The assignment was formally communicated to MPPL on February 16, 2026.
Scope and Validity
The rated facilities specifically pertain to the Long Term Bank Facilities amounting to ₹100.00 crore, which are exclusively sourced from ICICI Bank Ltd.
CareEdge Ratings indicated that the assigned rating is normally valid for a period of one year from the date of initial communication of the rating, which was February 12, 2026. The rating agency reserves the right to undertake surveillance or review the rating over time based on changing circumstances.
Source: BSE
