India Ratings Upgrades Carraro India's Long-Term Credit Facility Outlook to Positive
Carraro India Limited (CIL) has received a credit rating update from India Ratings and Research Pvt. Ltd., a Fitch Group company, concerning its bank loan facilities. The rating agency affirmed the existing ratings while upgrading the outlook on certain long-term debt instruments.The revision details various instrument specific actions for Carraro India’s credit facilities. Specifically, the Outlook for Long Term Credit Facilities was upgraded to Positive from Stable, while maintaining the 'IND A+' rating. Additionally, the short-term rating for Non-fund based Working Capital Limits (WCL) saw an upgrade.
The updated ratings and aggregate amounts are detailed below:
| Credit Facility rated | Aggregate amount of Credit facility (INR in million) | Rating for FY 2025-26 | Rating for FY 2026-27 | Rating Action |
|---|---|---|---|---|
| Long Term Credit Facilities: | ||||
| Long term facility | 846.25 (reduced from 1,292.10) | IND A+/ Stable | IND A+/ Positive | Outlook Upgraded |
| Proposed Term facility (Unallocated) | 800.00 | - | IND A+/ Positive | Assigned |
| Short Term Credit Facilities: | ||||
| Fund based WCL | 1,490.00 | IND A+/ Stable | IND A+/ Positive | Outlook Upgraded |
| Non-fund based WCL | 580.00 | IND A1 | IND A1+ | Upgraded |
The rating actions span both long and short-term facilities, with the agency affirming the 'IND A+' rating for Long Term Credit Facilities and upgrading the outlook to Positive. For Short Term facilities, the Fund based WCL Outlook was upgraded, while the Non-fund based WCL received an upgrade to IND A1+.
CARRARO Stock Price Movement
Carraro India Limited shares slipped by 0.73% today to settle at ₹564.40, reflecting a modest loss in post-market trading. The stock traded within an intraday range of ₹561.40 to ₹571.90 and saw 84,049 shares change 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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