14-Aug-2026      12:55

MIC Electronics Ltd. sees credit rating upgrades from Brickwork and BWR for banking facilities

MIC Electronics Ltd announced credit rating actions from both Brickwork Ratings and BWR regarding its various banking facilities. Brickwork Ratings upgraded the rating for Fund Based – Term Loan, Cash Credit, and WCTL to BWR BB /Stable from the previous BWR BB /Stable, and assigned a BWR A4 + rating to Non-Fund Based – Bank Guarantee, previously rated BWR A3. BWR revised the ratings for Bank Loan Facilities amounting to 110.82 Crs to BWR BB/Stable and BWR A4+, and assigned ratings of BWR BB /Stable to Fund Based Cash Credit-Sanctioned (amounting to 31.00), BWR BBB- /Stable to Term Loan-Outstanding (12.78), BWR BBB- /Stable to Cash Credit-Proposed (22.45), BWR BBB- /Stable to WCTL(ECLGS)- Sanctioned, BWR A4 + to Bank Guarantee-Sanctioned (8.00), BWR A3 to Bank Guarantee-Proposed, and further assignments for Cash Credit - Sanctioned (20.00), Cash Credit - Proposed (29.00), Term Loan - Sanctioned (10.35), WCTL (ECLGS) - Sanctioned (3.99), Bank Guarantee - Sanctioned (4.00), Bank Guarantee - Proposed (26.29), Cash Credit - Sanctioned (11.00), WCTL (ECLGS) - Sanctioned (2.19), Bank Guarantee-Sanctioned (4.00), and Bank Guarantee - Proposed (26.29), along with annual reviews for Bank Loan Facilities (110.82 Crs) referencing BWR's rating letter dated 31-Oct-2025.

News source: Capital Market - Live News