Jai Balaji Industries Limited has received an update on its credit ratings from CRISIL. The long-term rating for the company’s bank loan facilities has been revised to CRISIL BBB/Stable, a downgrade from the previous ‘CRISIL BBB+/Stable’. Similarly, the short-term rating has been lowered to Crisil A3+ from ‘Crisil A2’. The total bank loan facilities rated amount to Rs. 995 Crores. This revision reflects an adjustment in the perceived creditworthiness of the company’s debt obligations.
Credit Rating Revision Announced
Jai Balaji Industries Limited has formally notified the stock exchanges regarding a revision in its credit ratings issued by CRISIL. This intimation, made in accordance with the Listing Obligations and Disclosure Requirements Regulations, 2015, details changes to the company’s bank loan facilities.
Details of Rating Change
The total value of bank loan facilities rated by CRISIL stands at Rs. 995 Crores. The long-term rating assigned to these facilities has been downgraded from ‘CRISIL BBB+/Stable’ to ‘CRISIL BBB/Stable’. Concurrently, the short-term rating has been revised downwards from ‘Crisil A2’ to ‘Crisil A3+’. These changes reflect CRISIL’s updated assessment of the company’s credit risk profile associated with its borrowings.
Source: BSE
