Yasho Industries' Bank Loan Facilities Rated IND BBB+/Positive by India Ratings
India Ratings & Research has affirmed Yasho Industries Limited’s bank loan facilities at ‘IND BBB+’ with a Positive Outlook, resolving the Rating Watch with Negative Implications. The total rated amount for these facilities has been reduced to ₹4,170.06 crore (US$500 million) from ₹6,129.30 crore (US$735 million).
A positive credit rating affirmation can improve the company's borrowing costs and access to further debt financing, which is significant for its operational and expansion plans.
The affirmation of credit ratings with a positive outlook, coupled with the resolution of a negative watch, indicates a stable and improving financial outlook for the company's debt facilities.
India Ratings & Research Private Limited has affirmed Yasho Industries Limited’s (YIL) bank loan facilities’ rating at ‘IND BBB+’ with a Positive Outlook. The rating agency has also resolved the Rating Watch with Negative Implications.
The affirmed rating applies to various instruments including working capital limits and term loans across multiple banks such as Saraswat Bank, HDFC Bank Limited, Axis Bank Limited, SVC Co-operative Bank, and Hongkong and Shanghai Banking Corporation. The total outstanding/rated amount for these facilities has been reduced from ₹6,129.30 crore to ₹4,170.06 crore.
Specifically, Saraswat Bank’s Fund Based Working Capital Limit is rated IND BBB+/Positive/IND A2+, Term Loan is rated IND BBB+/Positive, and Non-Fund Based Working Capital Limit is rated IND A2+. HDFC Bank Limited’s facilities have a WD/WD rating, while Axis Bank Limited’s Term Loan is rated IND BBB+/Positive and Fund Based Working Capital Limit is rated IND BBB+/Positive/IND A2+. SVC Co-operative Bank’s Term Loan is rated IND BBB+/Positive and Fund Based Working Capital Limit is rated IND BBB+/Positive/IND A2+. The Fund/Non-Fund Based Working Capital Limit with Hongkong and Shanghai Banking Corporation is rated IND BBB+/Positive/IND A2+, and with Citibank N.A. is WD/WD.
The company's management, through its Company Secretary & Compliance Officer Rupali Verma, confirmed that this information will also be available on the company's website, www.yashoindustries.com.
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Yasho Industries 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 Yasho Industries Limited. Read the original for the full detail.