PCBL Chemical Limited has announced that ICRA Limited has reaffirmed the credit ratings across its major financial instruments following a review dated February 12, 2026. The company’s ₹700 crore Non-Convertible Debentures (NCDs) were reaffirmed at [ICRA]AA(Negative). Furthermore, Commercial Paper and various long-term loans, totaling substantial amounts, also received reaffirmation, maintaining strong ratings for the company’s creditworthiness.
ICRA Credit Rating Reaffirmation for PCBL Chemical
PCBL Chemical Limited (formerly PCBL Limited) has received confirmation from ICRA Limited regarding the reaffirmation of credit ratings across its various credit facilities and instruments. The ratings were reviewed and finalized on February 12, 2026, indicating continued stable credit perception by the agency despite prevailing market conditions.
Key Rating Highlights
The announcement details the reaffirmed ratings for several crucial instruments. The highest amount facility, the Non-Convertible Debentures (NCDs), totaling Rs. 700.00 crores, was reaffirmed at [ICRA]AA(Negative). Similarly, long-term fund-based facilities, including a Working Capital Term Loan of Rs. 480.00 crores and another Term Loan of Rs. 583.10 crores, were maintained at [ICRA] AA (Negative).
The Commercial Paper program, valued at Rs. 500.00 crores, retained a very strong rating of [ICRA]A1+. Even the Rs. 136.90 crore Long Term-Unallocated facility was reaffirmed at [ICRA] AA (Negative). The consistent reaffirmation across debt instruments reflects the company’s solid financial foundation as assessed by ICRA.
Summary of Reaffirmed Ratings
- Non-Convertible Debentures (NCDs): Rs. 700.00 crores – Reaffirmed at [ICRA]AA(Negative).
- Commercial Paper: Rs. 500.00 crores – Reaffirmed at [ICRA]A1+.
- Long Term Loans (Working Capital & Term Loan): Totaling over Rs. 1063 crores – Reaffirmed at [ICRA] AA (Negative).
The Company Secretary and Chief Legal Officer, K. Mukherjee, confirmed that this information has been duly submitted to the stock exchanges for record.
Source: BSE
