HAL Gets ICRA Ratings Withdrawn on ₹6,050 Crore Bank Facilities
ICRA has withdrawn the [ICRA] AAA (Stable) and [ICRA] A1+ ratings assigned to Hindustan Aeronautics Limited’s bank facilities totalling ₹6,050 crore, at the request of the company based on NOCs from bankers.
Hindustan Aeronautics Limited (HAL) has informed the stock exchanges that ICRA Limited has withdrawn the credit ratings assigned to its bank facilities.
Details of Withdrawn Ratings
| Facility | Amount (₹ crore) | Previous Rating | Action |
|---|---|---|---|
| Long Term – Fund Based limits | 4,000.00 | [ICRA] AAA (Stable) | Withdrawn |
| Short Term – Non-Fund Based limits | 2,050.00 | [ICRA] A1+ | Withdrawn |
| Total | 6,050.00 |
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Reason for Withdrawal
ICRA has withdrawn the ratings at the request of the Company, based on the No Objection Certificates (NOCs) received from its bankers and in accordance with ICRA’s policy on withdrawal of credit ratings.
ICRA has stated that it does not have information to suggest that the credit risk profile of HAL has changed since the time the ratings were last reviewed.
The Company has submitted the intimation under Regulation 30 of the SEBI Listing Regulations.
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