Tejas Networks has received reaffirmation of its credit ratings from ICRA Limited. The company’s long-term and short-term fund-based and non-fund-based facilities, along with its term loan and commercial paper programme, have been reaffirmed at strong levels. This indicates ICRA’s continued confidence in Tejas Networks’ financial stability and creditworthiness, reflecting positively on its borrowing costs and market perception.
ICRA Reaffirms Key Credit Ratings for Tejas Networks
Tejas Networks Limited announced today that ICRA Limited has reaffirmed the credit ratings assigned to the company’s various credit facilities. The rating committee of ICRA, after a review, has maintained the company’s strong credit profile, signaling stability and confidence in its financial operations.
Rating Details and Facility Breakdown
The reaffirmed ratings cover Tejas Networks’ credit facilities aggregating to Rs. 6,000 Crores and its Commercial Paper Programme of Rs. 500 Crores. Specifically:
- Long Term/Short Term – Fund based limits: Rated at [ICRA]A+(Stable) for the long-term aspect and [ICRA]A1+ for the short-term aspect. The total amount for these limits is 4,127 Crores.
- Long Term/Short Term – Non Fund based facilities: Rated at [ICRA]A+(Stable) and [ICRA]A1+, with an amount of 40 Crores.
- Long Term – Term Loan: Rated at [ICRA]A+(Stable), with a total amount of 1,833 Crores.
- Commercial Paper: Rated at [ICRA]A1+, for an amount of 500 Crores.
The total rated amount across all instruments is 6,500 Crores. These ratings have been reaffirmed by ICRA, underscoring the company’s consistent financial performance and robust credit management.
Company Response and Disclosure
Tejas Networks has made this information available on its official website, www.tejasnetworks.com, for public access. The company expressed its gratitude and requested that the information be taken on record by the relevant authorities.
ICRA’s Perspective
ICRA Limited, in its communication, noted that the reaffirmed ratings are based on the periodic monitoring of the company’s credit profile, particularly following the announcement of Q2FY2027 results. The agency reiterated its opinion that the assigned ratings should not be construed as a recommendation to buy, sell, or hold the rated instruments.
Source: BSE
