Asian Granito India Ltd. Reaffirms Credit Ratings Under Watch
Asian Granito India Ltd. announced that Infomerics Valuation and Rating Limited has reaffirmed its credit ratings for the company's bank facilities. The ratings are maintained under watch with developing implications.The reaffirmed ratings are as follows:
| Instrument/ Facility | Amount (Rs. in Crores) | Current Ratings | Previous Ratings | Rating Action |
|---|---|---|---|---|
| Long Term Facilities | 145 | IVR BBB+; RWDI | IVR BBB+ / Stable | Rating continued under watch with developing implications |
| Short Term Facilities | 10 | IVR A2; RWDI | IVR A2 | Rating continued under watch with developing implications |
The updated Credit Rating Letter was received by the company on March 27, 2026.
Details of Credit Facilities
The following table outlines the details of the rated facilities:
Long Term Facilities (Rs. in Crores)
| Name of Lender | Instrument | Type | Rated Amount | Maturity |
|---|---|---|---|---|
| HDFC Bank | Cash Credit | Fund Based | 40.00 | - |
| IDBI Bank | Cash Credit | Fund Based | 40.50 | |
| IndusInd Bank | Cash Credit | Fund Based | 50.00* | - |
| IDBI Bank | WCDL | Fund Based | 4.50 | |
| Proposed | Cash Credit | Fund Based | 10.00 | - |
| Total | 145.00 |
Short Term Facilities (Rs. in Crores)
| Name of Lender | Instrument | Type | Rated Amount | Maturity |
|---|---|---|---|---|
| IDBI Bank | Letter of Credit | Non-Fund Based | 10 | - |
| Total | 10 |
Total Facilities Rated: Rs. 155.00 Crore
According to Infomerics, the ratings consider the company’s operational and financial performance. The ratings are valid for one year, until May 29, 2026.
Source:
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