Gujarat Mineral Development Corporation Limited (GMDC) has announced that CARE EDGE Ratings has reaffirmed its credit ratings for the company’s bank facilities. The long-term/short-term bank facilities have been reaffirmed at CARE AA+; Stable, while the short-term bank facilities remain rated at CARE A1+. This reaffirmation, effective September 17, 2026, reflects GMDC’s ongoing financial health and operational performance.
Credit Rating Reaffirmed for GMDC Bank Facilities
Gujarat Mineral Development Corporation Limited (GMDC) has received a significant update regarding its creditworthiness. CARE EDGE Ratings has reaffirmed the ratings assigned to the company’s bank facilities. The announcement, dated September 18, 2026, confirms the stability and strength of GMDC’s financial standing.
Key Rating Details
Specifically, the Long Term / Short Term Bank Facilities, valued at Rs. 3,975.00 crore (reduced from Rs. 3,995.00 crore), have been reaffirmed with a rating of CARE AA+; Stable. Additionally, the Short Term Bank Facilities, enhanced to Rs. 25.00 crore (from Rs. 5.00 crore), have also been reaffirmed at CARE A1+. Both actions indicate a positive and stable outlook from the rating agency.
Information Dissemination
The rating letter from CARE is attached as an annexure to the company’s communication. Further details regarding these ratings will also be made available on the company’s official website, www.gmdcltd.com, ensuring transparency for all stakeholders.
Source: BSE
