Infomerics Upgrades Patel Engineering Ltd.'s Credit Rating Following Review of Operations and Finances
Patel Engineering Ltd. has received a credit rating upgrade from Infomerics Valuation and Rating Private Limited following a comprehensive review of the company's operational and financial performance for FY26. The ratings cover both bank facilities and Optionally Convertible Debentures (NCDs).The revised ratings reflect an improved credit standing, with key figures presented as follows:
| Instrument Type | Previous Rating | Current/Revision Rating | Rating Action | Regulator |
|---|---|---|---|---|
| Long Term Rating (Bank Facilities) | IVR A- | IVR A/Stable | Upgraded | RBI |
| Short Term Rating (Bank Facilities) | IVR A2+ | IVR A1 | Upgraded | RBI |
The ratings for bank facilities were assigned in line with the company's total rated facility amount of Rs. 6176.56 Crore, overseen by the Reserve Bank of India (RBI).
Details regarding the rating status of various bank facilities are provided below:
| Lender Name | Name of Facility | Size of Facility (Rs. Crore) | Rating Assigned/ Outlook |
|---|---|---|---|
| Indian Overseas Bank | Equipment/ Lease Finance | 2.61 | IVRA/Stable |
| International Bank of India | Cash Credit | 148.91 | IVRA/Stable |
| DBS Bank | Long Term Rating | N/A | IVR A/Stable |
| ICICI Bank | Cash Credit | 105.94 | IVRA/Stable |
In addition to the bank facilities rating, Infomerics also provided a revised rating for Optionally Convertible Debentures (NCDs).
The rating details for the NCDs are as follows:
| Instrument | Amount (Rs. crore) | Rating | Rating Action | Regulator |
|---|---|---|---|---|
| Optionally Convertible Debentures | 106.23 | IVR A/Stable | Rating Upgraded | MCA |
PATELENG Stock Price Movement
As of 1:53 PM, Patel Engineering Limited shares are shedding value, trading down 0.50% to ₹26.12 in live market trading. The stock has seen significant volume, with a total of 1.59 million shares traded so far today.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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