Rajputana Stainless Ratings Upgraded by CRISIL Following Review of Bank Loan Facilities
Rajputana Stainless Ltd has received an upgraded rating from Crisil Ratings Limited concerning its bank loan facilities. The ratings reflect a review of the company’s debt instruments and banking relationships, signaling improved financial standing in the eyes of the rating agency.CRISIL Ratings updated the status of Rajputana Stainless Ltd's total bank loan facilities, which are valued at Rs. 165 Crore.
The key improvements include:
- Long-term Rating: The facility was upgraded to Crisil BBB+/Stable from its previous grading of Crisil BBB/Stable.
- Short Term Rating: The rating for short-term instruments was also improved, upgraded to Crisil A2 (upgraded from Crisil A3+).
The company has various facilities under review by CRISIL Ratings, which cover different types and financial institutions.
| Facility Type | Bank/Institution | Amount (Rs. in Crore) | Rating |
|---|---|---|---|
| Cash Credit | IDBI Bank Limited | 17.5 | Crisil BBB+/Stable |
| Cash Credit | State Bank of India | 47.5 | Crisil BBB+/Stable |
| Non-Fund Based Limit | IDBI Bank Limited | 12.5 | Crisil A2 |
| Non-Fund Based Limit | State Bank of India | 52.5 | Crisil A2 |
| Proposed Fund-Based Bank Limits | N/A | 1163 | Crisil BBB+/Stable |
| Rupee Term Loan | Axis Finance Limited | 6.7 | Crisil BBB+/Stable |
| Rupee Term Loan | IDBI Bank Limited | 1.64 | Crisil BBB+/Stable |
| Working Capital Term Loan | Axis Finance Limited | 15.03 | Crisil BBB+/Stable |
The ratings assignment by CRISIL Ratings are subject to continuous surveillance and review, ensuring that the facilities remain under ongoing scrutiny based on current circumstances and financial performance of the company.
RSL Stock Price Movement
Shares of Rajputana Stainless Limited on Friday slipped by 0.82% to settle at ₹129.99, losing ₹1.07 from the previous close. The stock saw a busy trading day, with 514,538 shares transacted and reaching a low during the session at ₹129.25.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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