Afcons Infrastructure Limited announces the withdrawal of credit ratings for its bank facilities by ICRA, effective September 24, 2025. The withdrawal follows the company’s request and is based on a no-objection certificate from Bank of Baroda. Details of the rating rationale are available on ICRA’s website.
Credit Rating Update
As of September 24, 2025, Afcons Infrastructure Limited confirms that ICRA (ICRA Limited) has withdrawn its credit ratings for the company’s bank facilities. This decision comes in light of the company’s strategic considerations and established banking arrangements.
Details of the Withdrawal
The withdrawal of credit ratings is a direct result of Afcons Infrastructure’s formal request to ICRA. The lending bank, Bank of Baroda, has issued a no-objection certificate (NOC), which aligns with ICRA’s existing policies regarding the withdrawal of credit ratings. The initial intimations regarding this process were dated July 1, 2025, and July 21, 2025.
Reference Information
Further details regarding the rationale behind the rating withdrawal are accessible on ICRA’s official website.
Additionally, the company has ensured transparency by uploading this information to its official website.
Source: BSE
