Coal India has received credit ratings for its bank facilities from CareEdge Ratings. The long-term bank facilities are rated CARE AAA; Stable, enhanced from ₹2,694.30 crore to ₹8,492.00 crore. Short-term bank facilities are rated CARE A1+, reduced from ₹7,220.00 crore to ₹5,275.00 crore. The ratings reflect CareEdge’s assessment of Coal India’s creditworthiness and financial stability.
Credit Rating Update
Coal India has announced that it has received updated credit ratings for its banking facilities following a review by CareEdge Ratings. These ratings reflect the agency’s evaluation of the company’s financial standing and its ability to meet its financial obligations.
Long-Term Bank Facilities
The credit rating for Coal India’s long-term bank facilities has been reaffirmed at CARE AAA; Stable. The total amount covered under this rating is ₹8,492.00 crore, which is an enhancement from the previous amount of ₹2,694.30 crore.
Short-Term Bank Facilities
The short-term bank facilities have also been reaffirmed at CARE A1+. The amount for short-term facilities is ₹5,275.00 crore, a reduction from the previous amount of ₹7,220.00 crore.
Details of Rated Facilities
Long Term Facilities
Term Loans
National Bank for Agriculture and Rural Development: Rated Amount (₹1,217.00 crore). Sanctioned amount repayable in 40 quarterly installments post moratorium of 1 year.
Fund Based Limits
Key Banks:
- State Bank of India: ₹2,910.00 crore
- Punjab National Bank: ₹1,005.00 crore
- Punjab & Sind Bank: ₹5.00 crore
- Central Bank of India: ₹5.00 crore
- Indian Overseas Bank: ₹5.00 crore
- Bank of Baroda: ₹5.00 crore
- HDFC Bank Ltd.: ₹5.00 crore
- ICICI Bank Ltd.: ₹5.00 crore
- UCO Bank: ₹5.00 crore
- Axis Bank Ltd.: ₹5.00 crore
Short Term Facilities
Non-Fund Based Limits
Key Banks:
- State Bank of India: ₹2,755.00 crore (Letter of credit and Bank Guarantee)
- ICICI Bank Ltd.: ₹1,680.00 crore (Letter of credit and Bank Guarantee)
- Axis Bank Ltd.: ₹710.00 crore (Letter of credit and Bank Guarantee)
Source: BSE