IRCON International Limited announced on March 24, 2026, that Infomerics Valuation and Rating Limited has reaffirmed its credit ratings for the company’s bank facilities. The long-term facilities, totaling ₹9,550.00 Crore, retained the rating of IVR AAA/Stable. This reaffirms the highest credit quality assessment by the rating agency for the company’s overall banking arrangements following a routine review for enhanced limits.
Credit Rating Reaffirmation Announced
IRCON International Limited has confirmed that following a routine rating exercise conducted by Infomerics Valuation and Rating Limited for enhanced limits, the existing credit ratings for the company’s bank facilities have been reaffirmed. This update was communicated on March 24, 2026.
Rating Summary for Bank Facilities
The total commitment reviewed amounts to Rupees Nine Thousand Five Hundred Fifty Crore Only (₹9550.00 Crore). The ratings assigned across the different segments are as follows:
Long Term Bank Facilities (Fund Based & Non-Fund Based)
The initial ₹1000.03 Crore facility (which saw an increase from ₹0.02 Crore) maintained its rating of IVR AAA/ Stable (IVR Triple A with Stable Outlook). The previous rating was identical.
Long Term/Short Term Bank Facilities
The larger portion of the facilities, totaling ₹8,549.97 Crore, which represents the Bank Guarantee (BG)/Letter of Credit (LC) limit (increased from ₹7,799.90 Crore), maintained a split rating:
- Long Term Component: Maintained IVR AAA/ Stable (IVR Triple A with Stable Outlook).
- Short Term Component: Maintained IVR A1+ (IVR A One Plus).
For both segments, the rating action taken by Infomerics was a Reaffirmed Rating, indicating consistent assessment of credit quality. The complexity indicator for all reaffirmed ratings remains Simple.
Total Commitment Update
The total commitment under review stands at ₹9,550.00 Crore. This figure reflects changes in the underlying components: the BG/LC limit increased to ₹8,549.90 Crore, while the proposed fund-based/non-fund-based commitment decreased to ₹0.07 Crore from ₹1,200.08 Crore in the previous structure.
The Company has formally accepted the rating rationale provided by Infomerics on the evening of March 24, 2026.
Source: BSE
