Maiden Forgings Ltd. Reaffirms Credit Rating with Crisil
Maiden Forgings Limited announced on April 2, 2026, that it has received a reaffirmed credit rating of 'Crisil BBB/Stable' from Crisil Ratings Limited for its bank facilities. The rating pertains to a total bank loan facility of ₹42.5 crore.According to Crisil Ratings, the outstanding ratings for the company’s debt instruments and facilities are detailed below:
| Total Bank Loan Facilities Rated | Rs.42.5 Crore |
|---|---|
| Long Term Rating | Crisil BBB/Stable (Reaffirmed) |
A breakdown of the bank-wise facilities is presented in the following table:
| S.No. | Bank Facility | Bank | Amount (Rs. in Crore) | Outstanding Rating |
|---|---|---|---|---|
| 1 | Cash Credit | Axis Bank Limited | 16.5 | Crisil BBB/Stable |
| 2 | Cash Credit | Bank of Baroda | 26 | Crisil BBB/Stable |
| Total | 42.5 |
Management has indicated an intention to upgrade the rating from BBB to A within the next five years. The current rating is valid until March 31, 2027.
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