Sagar Cements' Bank Loan Facilities Rated IND BBB/Stable/IND A3+
India Ratings has downgraded Sagar Cements Limited's bank loan facilities. The long-term rating is now 'IND BBB' (Stable) from 'IND BBB+', and the short-term rating is 'IND A3+' from 'IND A2'. This affects INR 7,709.60 million in rated facilities.
A downgrade in credit rating can potentially increase borrowing costs and affect the company's ability to access credit in the future, impacting its financial flexibility. However, the outlook remains stable.
The credit rating for the company's bank loan facilities has been downgraded, indicating a negative outlook on its creditworthiness.
India Ratings & Research Private Limited has revised the credit rating for Sagar Cements Limited's bank loan facilities. The long-term rating has been downgraded to 'IND BBB' from 'IND BBB+' with a Stable Outlook, and the short-term rating has been downgraded to 'IND A3+' from 'IND A2'.
This rating action impacts various bank loan facilities. The total rated amount for bank loan facilities is INR 7,709.60 million, which has been assigned the 'IND BBB/Stable/IND A3+' rating. Additionally, INR 1,930.40 million of bank loan facilities have been assigned the same rating. Non-convertible debentures with an amount of INR 115.40 million have been withdrawn as they have been repaid in full.
The detailed breakdown of rated instruments includes multiple fund-based and non-fund-based working capital limits from various banks such as State Bank of India, Axis Bank Limited, HDFC Bank Limited, Federal Bank, RBL Bank, and CSB Bank Limited, along with term loans from Axis Bank Limited and RBL Bank. The non-convertible debentures, with ISIN INE433R07016, were issued on March 23, 2016, with a reset rate and a maturity date of May 28, 2025.
What to do with a filing like this
Sagar Cements Limited filed this with the NSE as a statutory disclosure, categorised under credit ratings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Sagar Cements Limited. Read the original for the full detail.