Solara Active Pharma Sciences Receives Upgraded Credit Ratings for Rs 791.2 Crore Bank Loan Facilities from Crisil
Solara Active Pharma Sciences Ltd has received updated credit ratings from Crisil Ratings Limited concerning its bank loan facilities, which total Rs 791.2 Crore. The rating assessments reflect improvements across both long-term and short-term instruments.Crisil Ratings upgraded the company's Long Term Rating to BBB+/Stable (upgraded from 'Crisil BBB / Stable') and elevated the Short term Rating to A2 (upgraded from 'Crisil A3+'). These ratings cover the facilities provided by various banks and financial institutions.
The assessment pertains to a total of Rs 791.2 Crore in bank loan facilities, covering both long-term loans and short-term obligations such as cash credit and letter of credit facilities.
Rating Summary for Bank Loan Facilities
The key rating actions undertaken by Crisil Ratings for Solara Active Pharma Sciences Ltd are detailed below:| Instrument Type | Credibility Rating | Change in Rating |
|---|---|---|
| Long Term Rating | Crisil BBB+/Stable | Upgraded from 'Crisil BBB / Stable' |
| Short Term Rating | Crisil A2 | Upgraded from 'Crisil A3+' |
Detailed Bank Facility Breakdown
The outstanding facilities totaling Rs 791.2 Crore are categorized across several financial instruments and associated banks. The breakdown of these facilities is as follows:| Facility Type | Counterparty Bank | Amount (Rs. in Crore) | Rating |
|---|---|---|---|
| Cash Credit | HDFC Bank Limited | 170.0 | Crisil BBB+/Stable |
| Cash Credit | IDFC FIRST Bank Limited | 146.5 | Crisil BBB+/Stable |
| Cash Credit | YES Bank Limited | 65.0 | Crisil BBB+/Stable |
| Cash Credit | RBL Bank Limited | 50.0 | Crisil BBB+/Stable |
| Cash Credit | ICICI Bank Limited | 43.0 | Crisil BBB+/Stable |
| Letter of Credit | RBL Bank Limited | 100.0 | Crisil A2 |
| Letter of Credit | ICICI Bank Limited | 57.0 | Crisil A2 |
| Letter of Credit | HDFC Bank Limited | 25.0 | Crisil A2 |
| Letter of Credit | IDFC FIRST Bank Limited | 3.5 | Crisil A2 |
| Long Term Loan | Aditya Birla Finance Limited- (Amalgamated) | 78.7 | Crisil BBB+/Stable |
| Long Term Loan | YES Bank Limited | 31.2 | Crisil BBB+/Stable |
| Long Term Loan | HDFC Bank Limited | 21.3 | Crisil BBB+/Stable |
The facilities listed span various banks, including HDFC Bank Limited, ICICI Bank Limited, IDFC FIRST Bank Limited, YES Bank Limited, RBL Bank Limited, and Aditya Birla Finance Limited (Amalgamated).
SOLARA Stock Price Movement
Shares of Solara Active Pharma Sciences Limited slipped today by 1.73%, closing at ₹579.10. The stock traded 264,528 shares during the session as it settled lower in post-market trading.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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