India Ratings Upgrades Pasupati Spinning & Weaving Mills Ltd Credit Rating to IND BB
Pasupati Spinning & Weaving Mills Limited has received a credit rating upgrade from India Ratings & Research Private Limited. The agency revised the company's bank loan facilities rating to 'IND BB,' moving up from 'IND BB-'.India Ratings also affirmed the short term rating for the company's bank facilities as 'IND A4+'. This development follows an assessment of the company’s various financial commitments and lending facilities.
The ratings action confirms that Pasupati Spinning & Weaving Mills Ltd has multiple banking relationships, holding varied facilities from several major banks in both fund-based and non-fund based categories.
Banking Portfolio Snapshot
A detailed review of the instruments provided by India Ratings shows a diversified portfolio of funding commitments across various financial institutions. The key credit rating specifics for bank loan facilities are as follows:| Instrument Type | Size of Issue (million) | Rating Assigned | Rating Action |
|---|---|---|---|
| Bank loan facilities | INR490.18 | IND BB / Stable / IND A4+ | Long Term Rating Upgraded; Short Term Rating Affirmed |
| Bank loan facilities | INR59.82 | IND BB / Stable / IND A4+ | Assigned |
Comprehensive Facility Details
The company holds numerous working capital and term loans from various banks, as detailed below:| Instrument Description | Bank Name | Ratings | Outstanding Amount (INR million) |
|---|---|---|---|
| Fund Based WorkingCapital Limit | Bank of Baroda | INDBB/Stable | 102.70 |
| Fund Based WorkingCapital Limit | CanaraBank | INDBB/Stable | 79.75 |
| Non-Fund Based WorkingCapital Limit | CanaraBank | INDA4+ | 8.70 |
| Fund Based WorkingCapital Limit | StateBank of India | INDBB/Stable | 98.30 |
| Fund Based WorkingCapital Limit | Punjab National Bank | INDBB/Stable | 16.80 |
| Non-Fund Based WorkingCapital Limit | Punjab National Bank | INDA4+ | 6.20 |
| Non-Fund Based WorkingCapital Limit | StateBank of India | INDA4+ | 13.50 |
| Fund Based WorkingCapital Limit | The Nainital Bank Limited | INDBB/Stable | 10.30 |
| TermLoan | CanaraBank | INDBB/Stable | 14.60 |
| WorkingCapital TermLoan | CanaraBank | INDBB/Stable | 63.15 |
| WorkingCapital TermLoan | StateBank of India | INDBB/Stable | 29.50 |
| WorkingCapital TermLoan | Bank of Baroda | INDBB/Stable | 35.00 |
| Termloan | Punjab National Bank | INDBB/Stable | 59.87 |
| Termloan | Bank of Baroda | INDBB/Stable | 11.64 |
Stock Price Movement
As of 14:48, shares of Pasupati Spinning & Weaving Mills Ltd are edging higher, currently trading at ₹28.79, which represents a 3.79% gain. The stock has moved within its intraday range, testing lows at ₹28.50 and reaching a high of ₹28.85.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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