Mahanagar Gas Limited (MGL) has announced that its credit ratings have been reaffirmed and assigned by ICRA Limited. The ratings apply to various long-term and short-term bank facilities. The reaffirmation of [ICRA]AAA (Stable) for long-term facilities and [ICRA]A1+ for short-term facilities reflects MGL’s stable financial outlook. The update was issued on November 28, 2025.
Credit Rating Reaffirmation
ICRA Limited has reaffirmed the credit ratings for Mahanagar Gas Limited’s (MGL) bank facilities, providing a stable outlook for the company. The ratings were officially reaffirmed and assigned as of November 27, 2025.
Long-Term Facility Ratings
The long-term non-fund based limits, amounting to ₹720.00 crore, have been rated [ICRA]AAA (Stable) and assigned. Similarly, the long-term fund-based limits, totaling ₹80.00 crore, received a [ICRA]AAA (Stable) rating.
Short-Term Facility Ratings
MGL’s short-term non-fund based limits, which amount to ₹1,128.75 crore, have been reaffirmed at [ICRA]A1+. Short-term non-fund based limits (sublimit) of ₹(80.00) crore have also been reaffirmed at [ICRA]A1+. The short-term fund-based limits of ₹17.70 crore and short term fund based limits (sublimit) of ₹(1.00) crore were reaffirmed at [ICRA]A1+.
Unallocated Limits Rating
The long-term/short-term unallocated limits of ₹78.55 crore are rated [ICRA]AAA (Stable)/ [ICRA]A1+ and have been reaffirmed.
Source: BSE
