CRISIL Reaffirms Rating for Rane Steering Systems' Bank Loan Facilities at A- with Stable Outlook
Rane Holdings Ltd announced that CRISIL Ratings has reaffirmed its long term rating for the bank loan facilities of its wholly owned subsidiary, Rane Steering Systems Private Limited. The rating was assigned as Crisil A minus (A-) with a 'Stable' outlook.The rating pertains to the company’s total Bank Loan Facilities, which stand at Rs. 330 crore, up from previously rated amounts totaling Rs. 240 crore. This reaffirmation reflects CRISIL Ratings’ continuous surveillance and review of all ratings assigned by the agency.
The details regarding the facilities reviewed by Crisil Ratings are summarized below:
| Facility Type | Amount (Rs. in Crore) | Rating & Outlook |
|---|---|---|
| Working Capital Demand Loan from ICICI Bank Limited | 240 | Crisil A-/Stable |
| Proposed Long Term Bank Loan Facility | 50 | Crisil A-/Stable |
| Proposed Working Capital Facility | 40 | Crisil A-/Stable |
The ratings assigned by CRISIL Ratings are subject to continuous surveillance. The rating agency reserves the right to withdraw or revise the ratings based on new information or other circumstances that may impact them.
RANEHOLDIN Stock Price Movement
Rane Holdings Limited shares settled today after shedding 1.26%, closing at ₹1371. Traded volume for the stock totaled 4,816 shares during post-market activity.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.