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Acuité Ratings upgrades ratings of Mukand Ltd
Posted On: 2021-04-13 20:46:08 (Time Zone: Arizona, USA)
Acuité Ratings & Research Limited( ACUITE ) vide its letter dated 13th April, 2021, has intimated about revision / upgrade in the Ratings of various credit facilities / exposures of Mukand Ltd as below:
Total Fixed Deposits Rated - Rs. 120.48 Crore
Fixed Deposit Rating - ACUITE FA / Outlook: Stable (Upgraded from FBB/Negative)
Total Bank Facilities Rated - Rs. 1,045.48 Crore
Long Term Rating - ACUITE BBB-/ Outlook: Stable (Upgraded from ACUITE BB/Negative)
Short Term Rating - ACUITE A3 (Upgraded from ACUITE A4+)
The rating upgrade and revision in the outlook from Negative to Stable is driven by the company s significant progress in land parcel monetization and disinvestment in a joint venture company while utilizing the proceeds to repay the outstanding debt from lenders and group companies, thereby improving on the financial risk profile. The company has receiv
Acuite assigns ratings to RattanIndia Power Limited s bank facilities
Posted On: 2021-01-31 03:53:16 (Time Zone: Arizona, USA)
Acuite Ratings & Research Limited ( Acuite ) has rated the bank facilities of RattanIndia Power Limited ( the Company ) as under:
Total Bank Facilities Rated - Rs. 1160.00 Crore
Long Term Rating - ACUITE BBB
Short Term Rating - ACUITE A3
Acuite has assessed the Outlook for the Company to be Stable.
The ratings so assigned by Acuite takes into account following strengths and derives comfort from:
1. Successful implementation of binding settlement (One Time Settlement) with consortium of banks and financial institutions (Erstwhile Lenders) through restructuring plan leading to improved financial position of the company;