Vibhor Steel Tubes Ltd' Banking Facilities Receive Reaffirmed Credit Rating
Vibhor Steel Tubes Ltd, the company, has received a reaffirmation of the credit rating for its banking facilities. The rating was issued by CRISIL Ratings, confirming the strength of the company's financial standing.The assessment covered the total bank loan facilities, which are rated at a comprehensive figure of Rs. 370 Crore, an enhancement from Rs. 100 Crore previously.
In a detailed review of the company's debt instruments and facilities, CRISIL Ratings reaffirmed the ratings for both the long-term and short-term facilities.
The key ratings details are as follows:
| Facility Type | Total Amount Rated | CRISIL Rating Assigned | Rating Action |
|---|---|---|---|
| Long Term Facilities | Rs. 232.50 Crores | CRISIL BBB+/Stable | Reaffirmed |
| Short Term Facilities | Rs. 137.50 Crores | CRISIL A2 | Reaffirmed |
Collectively, the total bank loan facilities rated amount to Rs. 370 Crore, confirming a long-term rating of Crisil BBB+/Stable and a short-term rating of Crisil A2.
The facility breakdown provided by the rating agency included details across several banking products. These facilities, valued at Rs. 370 Crore, span various types including Cash Credit, Letter of Credit, and Term Loans from banks such as HDFC Bank Limited, YES Bank Limited, and Axis Bank Limited.
VSTL Stock Price Movement
On Friday, Vibhor Steel Tubes Limited shares climbed by ₹3.12 to settle at ₹135.18, posting a 2.35% gain for the session. The stock saw significant activity, trading on a volume of 59,871 shares.Source:
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