30-Sep-2026      16:48

Indian Acrylics Ltd. receives rating upgrades and reaffirmations from Brickwork Ratings India

Indian Acrylics Ltd announced rating upgrades and reaffirmations from Brickwork Ratings India Private Limited (BWR) across various instruments. BWR upgraded the ratings for Bank loans and facilities to BWR BB-Stable/Upgrade (Long-term) and BWR A4/Upgrade (Short-term), both amounting to Rs.99 crore, alongside upgrades for Bank Loan facilities of Rs. 5.00 crore. Several other instruments, including Term Loans, Withdrawal Cash Credit, Sub-limits (EPC, CC, FOB LC / FOOT NLC, working capital demand loan, export credit, Buyer's credit of ILC/FLC), Non-Fund Based Letter of Credit, Sub-Limit (Packing credit), Inland Letter of Guarantee, and ILC/FLC, were reaffirmed at BWR BB-/Stable and BWR A4, respectively, while Fund Based LT was upgraded to BWR BB- /Stable. The agency also reaffirmed ratings of BWR D for certain instruments and noted a projected net loss of Rs. 30.86 crore in FY25 and Rs. 24.09 crore in FY26, highlighting sensitivities related to revenue, EBITDA, debt servicing capacity, TNW, and leverage/debt.

News source: Capital Market - Live News