CARE Ratings has reaffirmed the credit ratings for Gujarat Gas Limited. The long-term bank facilities are reaffirmed at CARE AAA/Stable, while the short-term rating is reaffirmed at CARE A1+. This rating action follows a review of the company’s operational and financial performance for FY25 and Q1 FY26.
Credit Ratings Reaffirmed
Gujarat Gas Limited’s long-term bank facilities have been reaffirmed by CARE Ratings at CARE AAA/Stable. The short-term rating is also reaffirmed at CARE A1+. The rating reflects CARE’s assessment of the company’s ability to meet its financial obligations.
Details of Rated Bank Facilities
The total amount of bank facilities rated is Rs. 2,900.00 crore.
Fund Based / Non Fund Based Limits:
- Punjab National Bank: Rs. 1,600.00 crore (Letter of Guarantee / Line of Credit / Overdraft / Working Capital Demand Loan)
- ICICI Bank Ltd.: Rs. 500.00 crore (Letter of Credit / Bank Guarantee / Overdraft / Short Term Loan / Standby Letter of Credit)
- RBL Bank Limited: Rs. 500.00 crore (Bank Guarantee / Standby Letter of Credit / Overdraft / Working Capital Demand Loan)
- Federal Bank: Rs. 300.00 crore (Bank Guarantee / Working Capital Demand Loan / Overdraft)
These ratings were determined after reviewing Gujarat Gas Limited’s operational and financial performance for FY25 (Audited) and Q1 FY26 (Provisional).
Source: BSE
