News Details

Walchandnagar Industries Ltd announced rating actions from both Acuite Ratings and Research Limited and Acuite, impacting a range of instruments including Bank Loan Ratings (Fund Based) totaling 129.89 and 120.49, Bank Loan Ratings (Non-Fund Based) amounting to 384.62, and NCDs of Rs.20.09 Cr; Acuite reaffirmed ratings on several instruments, including Bank Loan Ratings at ACUITE BB and ACUITE A4+, and Bank Guarantee (BLR) facilities, while also withdrawing ratings on certain Bank Loan Ratings and Letters of Credit, and assigning ratings to proposed long-term bank facilities; additionally, Acuite revised the outlook on Bank Loan Ratings from Negative to Stable, and reaffirmed ratings on Cash Credit facilities, Bank Guarantees, and Working Capital Demand Loans, some of which were subsequently withdrawn, alongside reaffirming and withdrawing ratings on Bank Guarantee/Letter of Guarantee and Letter of Credit instruments, and assigning ratings to proposed facilities; the release also noted the release of partial retention money from TNEB amounting to Rs.23.74 Cr and bank guarantees from TNEB worth Rs.8.28 Cr, and highlighted a moderate financial risk profile with moderate gearing below unity.