ICRA Reaffirms Ratings for Paramount Communications Ltd.'s Bank Facilities with Stable Outlook
Paramount Communications Ltd. has received reaffirmed credit ratings from ICRA Limited concerning its long-term and short-term bank facilities. The rating action, which includes a Stable outlook, pertains to instruments totaling 150.00 Rs. Crore, indicating the company’s financial standing regarding its borrowing capacity.According to the rating details provided by ICRA, the relevant instrument type—Long term/Short term - Fund based/non-fundbased - Others—was assigned a rating of [ICRA]BBB(Stable) / [ICRAJA3+]. This rating was reaffirmed and removed from watch with negative implications, maintaining a Stable outlook.
The ratings reviewed by ICRA Limited span various banking limits and involve multiple financial institutions. The breakdown of these facilities is detailed below:
| Bank/Instrument Type | Rated Amount (Rs. Crore) | Rating Assigned |
|---|---|---|
| Union Bank of India | 50.00 | [ICRA]BBB (Stable)/[ICRAJA3+ |
| Axis bank Limited | 60.00 | [ICRA]BBB (Stable)/[ICRAJA3+ |
| Proposed Limits | 40.00 | [ICRA]BBB (Stable)/[ICRAJA3+ |
| Total | 150.00 |
The rating for the Long term - Unallocated limits was also confirmed at [ICRA]BBB(Stable) by ICRA Limited, assigned a rated amount of 0.00 Rs. Crore.
These ratings are specific to the terms and conditions of the instruments as stated in the agreements with ICRA Limited. The facilities encompass various bank limits, with a total reviewed limit amounting to 150.00 Rs. Crore across the listed banks and proposed allocations.
PARACABLES Stock Price Movement
Paramount Communications Limited shares shed 0.74% today, settling at approximately ₹65.50 following weakness in late trading. The stock experienced a solid volume day, with 895,636 shares changing hands during the session.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.
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