Lloyds Metals and Energy Limited has received reaffirmed credit ratings from Crisil Ratings Limited. The company’s bank loan facilities totaling Rs. 17,112 crore have been assigned a long-term rating of Crisil AA/Stable, with the short-term rating at Crisil A1+. Additionally, Non-Convertible Debentures of Rs. 2,500 crore and Rs. 1,550 crore were reaffirmed at Crisil AA/Stable, and another Non-Convertible Debenture of Rs. 2,400 crore was assigned a rating of Crisil AA/Stable, demonstrating the rating agency’s continued confidence in the company’s creditworthiness.
Lloyds Metals and Energy: Credit Ratings Reaffirmed
Lloyds Metals and Energy Limited has announced that Crisil Ratings Limited has reaffirmed its credit ratings for the company’s various debt instruments. This development signifies the rating agency’s sustained confidence in the company’s financial stability and its ability to meet its financial obligations.
Key Rating Details
Bank Loan Facilities
The total bank loan facilities rated amount to Rs. 17,112 crore, an enhancement from the previous Rs. 8,500 crore. Crisil Ratings has reaffirmed the long-term rating as Crisil AA/Stable and the short-term rating as Crisil A1+ for these facilities.
Non-Convertible Debentures (NCDs)
- Non-Convertible Debentures (Non-Convertible Debentures) with a value of Rs. 2,500 crore have been reaffirmed with a Crisil AA/Stable rating.
- Non-Convertible Debentures (Non-Convertible Debentures) with a value of Rs. 1,550 crore have also been reaffirmed with a Crisil AA/Stable rating.
- An additional Non-Convertible Debenture (Non-Convertible Debenture) of Rs. 2,400 crore has been assigned a Crisil AA/Stable rating.
These reaffirmations and assignments reflect a high degree of safety regarding timely servicing of financial obligations, with such securities carrying very low credit risk. The company has stated that the credit rating letter issued by Crisil Ratings is enclosed and available on the company’s website.
Source: BSE
