ICRA has upgraded the credit ratings for Sarda Energy & Minerals Ltd.’s credit facilities relating to its wholly-owned subsidiary, Chhattisgarh Hydro Power LLP. The ratings for long-term fund-based term loans, cash credit, and non-fund based facilities have all been revised from ICRA A (Stable) to ICRA A+ (Stable). This upgrade reflects ICRA’s positive assessment of the company’s financial standing and operational efficiency.
Credit Rating Upgrade
Sarda Energy & Minerals Ltd. announced that ICRA has upgraded the credit ratings for its credit facilities of the Company’s Wholly Owned Subsidiary – Chhattisgarh Hydro Power LLP.
Revised Credit Ratings
The following credit facilities have been upgraded:
Long term – Fund-based – Term loan: Upgraded from ICRA A (Stable) to ICRA A+ (Stable) for an amount of 175.36 crore.
Long term- fund based – Cash credit: Upgraded from ICRA A (Stable) to ICRA A+ (Stable) for an amount of 5.00 crore.
Long term – Non-fund based: Upgraded from ICRA A (Stable) to ICRA A+ (Stable) for an amount of 4.90 crore.
Source: BSE