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Suhyadri Industries Ltd. receives credit rating upgrades from ICRA for banking facilities exceeding Rs 400 crore

10-Nov-26 13:37 Hrs IST

Sahyadri Industries Ltd announced credit rating upgrades and assignments from ICRA for various banking facilities, including Long-term — Fund-based instruments of Rs 75.00 crore, upgraded from [ICRA]A- (Stable) to [ICRA]JA (Stable) linked to RBI Term loan, and Short term — Non-fund-based instruments of Rs 143.5 crore, upgraded from [ICRA]A2+ to [ICRA]AL; further Long-term — Fund-based instruments of Rs 180.957 crore were also upgraded from [ICRA]JA- (Stable) to [ICRA]JA (Stable) linked to Cash credit, alongside a Short term Non-fund-based instrument of Rs 1435 upgraded to A- (Stable); ICRA also assigned ratings of [ICRA]A (Stable) to Cash Credit facilities from HDFC Bank Limited (Rs 68.44 crore), ICICI Bank Limited (Rs 20.00 crore), The Cosmos Co Operative Bank Limited (Rs 14.48 crore), YES Bank Limited (Rs 48.03 crore), proposed facilities of Rs 30.00 crore, Term loans from HDFC Bank Limited (Rs 75.00 crore), Non Fund-Based Facilities from The Cosmos Co Operative Bank Limited (Rs 0.82), ICICI Bank Limited (Rs 5.00), VES Bank Limited (Rs 0.70), HDFC Bank Limited (Rs 6.56), with a sensitivity label indicating ratings are subject to review.

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