PNB Housing Finance Credit Rating
PNB Housing Finance secured a credit rating upgrade to 'CARE AAA; Stable' for its long-term instruments. This top-tier rating reflects improved asset quality and strong promoter support.
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PNB Housing Finance secured a credit rating upgrade to 'CARE AAA; Stable' for its long-term instruments. This top-tier rating reflects improved asset quality and strong promoter support.
Sun Pharmaceutical Industries Limited announced that CRISIL and ICRA reaffirmed its 'AAA' and 'A1+' ratings. CRISIL placed the long-term rating on 'Watch with Developing Implications' following Sun Pharma's agreement to acquire Organon & Co.
Suraj Products Limited's credit ratings were upgraded by ICRA Limited. The long-term rating improved from BBB (Stable) to BBB+ (Stable), and the short-term rating from A3+ to A2, covering bank loan facilities totaling ₹57.50 Crore. This upgrade reflects an improvement in the company's creditworthiness.
CARE Ratings has placed Aequs Limited's Rs. 25 Crore long-term bank facilities on 'Rating Watch with Developing Implications' (RWD). The action follows a proposed amalgamation between the company and its material subsidiaries to simplify group structure and rationalize costs.
ICRA Limited downgraded Jain Irrigation Systems Limited's credit rating for its ₹787.24 Crore Non-Convertible Debentures from [ICRA]BBB-(Negative) to [ICRA]BB+(Negative) and subsequently withdrew it at the company's request. The company maintains a valid rating from CRISIL.
India Ratings upgraded Parag Milk Foods Ltd's credit rating for ₹600 Crore bank facilities and ₹81 Crore NCDs to 'IND BBB+' with a Stable Outlook. The upgrade reflects sustained improvement in scale and EBITDA margins. Separately, the 'Issuer Rating' was upgraded to 'IND BBB+' and subsequently withdrawn at the company's request.
Advanced Enzyme Technologies Ltd received credit rating reaffirmations from CRISIL for ₹100 Crore in bank facilities. The long-term rating is CRISIL A+/Stable and short-term rating is CRISIL A1+, reflecting maintained creditworthiness.
ICRA Limited has assigned an 'ICRA AA' rating to Vedanta Limited's Non-Convertible Debentures and placed them on 'Watch Developing'. The long-term rating remains 'ICRA AA' (Watch Developing), while the short-term rating is reaffirmed at 'ICRA A1+'. Additionally, a rating for ₹2,600 Crore in NCDs was withdrawn following their transfer to Vedanta Aluminium Metal Limited post-demerger.
Modern Insulators Ltd has been assigned new credit ratings by CRISIL for its Rs. 130 Crore bank facilities. CRISIL assigned a 'CRISIL A-/Stable' rating for long-term facilities and 'CRISIL A2+' for short-term facilities. This reflects a stronger rating position compared to the company's previous ratings from India Ratings.
JSW Energy Limited announced that India Ratings and Research (Ind-Ra) has affirmed the credit rating of 'IND A/Stable' for the bank loan facilities of its step-down subsidiary, JSW Renew Energy Twenty Limited. This affirmation reflects the creditworthiness of the subsidiary's financial obligations.
Flomic Global Logistics Limited has been assigned credit ratings by Crisil Ratings Limited for its ₹45 Crore bank loan facilities. The agency assigned a long-term rating of 'CRISIL BBB-/Stable' and a short-term rating of 'CRISIL A3', reflecting the company's creditworthiness for its debt obligations.
ACME Solar Holdings Ltd's subsidiary, ACME Sidlaghatta Solar Energy Private Limited, was assigned a '[ICRA]A-(Stable)' credit rating by ICRA Limited for its ₹57.24 Crore term loan.
India Ratings and Research (Ind-Ra) upgraded Syrma SGS Technology Limited’s long-term bank loan facilities to 'IND AA'/Stable and affirmed its 'IND A1+' rating for short-term facilities and commercial paper. The upgrade reflects the company's strengthened credit profile. This rating action is a positive signal of financial stability and creditworthiness for investors.
CRISIL has upgraded Kirloskar Pneumatic Company Limited's long-term rating to 'CRISIL AA (Stable)' and reaffirmed its 'CRISIL A1+' short-term rating for ₹840 Crore bank facilities. The upgrade reflects the company's improving business risk profile and strong financial position.
Trent Limited announced that CARE Ratings has re-affirmed its credit ratings for instruments totaling ₹1350.01 Crore. Ratings for Bank Facilities and NCDs are maintained at CARE AA+; Stable, while Commercial Papers and Short-Term Facilities are rated CARE A1+.
JSW Energy Limited announced that ICRA Limited assigned a long-term credit rating of 'ICRA A/Stable' to its step-down subsidiary, JSW Green Energy Eight Limited. The rating applies to the subsidiary's long-term bank facilities, reflecting the credit profile and stability of the project's financial structure.
Ganesh Consumer Products Limited has received a credit rating upgrade from CARE Ratings Limited. Ratings for ₹213 Crore in bank facilities were upgraded to 'CARE A+; Stable / CARE A1+' from 'CARE BB; Stable'. The upgrade reflects a comfortable capital structure following a successful IPO in September 2025 and satisfactory financial performance.
ICRA Limited has reaffirmed the credit ratings for Greenlam Industries Limited and its wholly owned subsidiary. Long-term facilities totaling ₹695 Crore were reaffirmed at [ICRA]AA- (Negative), while short-term facilities worth ₹345 Crore were reaffirmed at [ICRA]A1+.
SBFC Finance Limited announced that ICRA Limited has reaffirmed its '[ICRA]AA-(Stable)' credit rating for ₹2,100 Crore in long-term fund-based bank facilities. The rating reaffirmation reflects the company's stable credit profile as of May 04, 2026.
CRISIL reaffirmed the credit ratings for DMCC Speciality Chemicals Limited. The company's bank facilities of ₹139.51 Crore and fixed deposits of ₹20.00 Crore were both reaffirmed at 'CRISIL BBB+/Stable', reflecting consistent creditworthiness and stable financial outlook.
SK Minerals & Additives Limited received a credit rating upgrade from CRISIL Ratings for its Rs. 110 Crore bank facilities. The long-term rating improved to CRISIL BBB/Stable from CRISIL BBB-/Stable, and the short-term rating was upgraded to CRISIL A3+ from CRISIL A3, reflecting improved creditworthiness.
Sicagen India Ltd informed that Acuité Ratings & Research Limited reaffirmed its credit ratings. Long-term facilities (₹25 Cr) maintained ACUITE BBB | Stable, and short-term facilities (₹23 Cr) maintained ACUITE A3+.
Shree Cement Limited announced that CARE Ratings Limited has reaffirmed its 'CARE A1+' credit rating for its ₹1,000 Crore Commercial Paper program. This reaffirmation reflects the company's strong credit profile and financial stability.
MAS Financial Services Ltd received credit rating updates from Acuite Ratings & Research for instruments totaling ₹7,850 Crore. Ratings for Bank Loans and Debentures were reaffirmed or assigned at 'ACUITE AA' with a stable outlook, while a ₹300 Crore Commercial Paper rating was withdrawn at the company's request.
InterGlobe Aviation Limited (IndiGo) announced that Moody's Investor Services has reaffirmed the company's credit rating at 'Baa3' with a stable outlook. The rating reflects IndiGo's dominant market position in India's airline sector and strong liquidity, despite headwinds from fuel prices and geopolitical uncertainty. Financial metrics are expected to recover by FY2028.
RNFI Services Limited has been assigned a first-time issuer credit rating of 'CARE BBB-; Stable' by Care Ratings Limited. The rating was obtained on a voluntary (suo moto) basis to demonstrate financial discipline and corporate governance. This investment-grade rating reflects the company's creditworthiness and commitment to transparency.
Asian Energy Services Limited announced that CRISIL Ratings has enhanced its rated bank loan facilities to ₹317.5 Crore. The agency maintained its 'Crisil BBB+/Watch Developing' and 'Crisil A2/Watch Developing' ratings for long-term and short-term facilities, respectively. The 'Watch Developing' status continues due to ongoing implications.
CRISIL Ratings has reaffirmed Swelect Energy Systems Limited's credit ratings. Bank loan facilities of ₹345 Crore maintained 'CRISIL A-/Stable' and 'CRISIL A2+' ratings, while ₹138.5 Crore in non-convertible debentures retained 'CRISIL A (CE)/Stable'. The reaffirmation reflects stable creditworthiness across the company's ₹483.5 Crore total debt portfolio.
CRISIL Ratings assigned 'CRISIL AA' to Vedanta Limited's NCDs while placing them on 'Watch Developing'. The long-term rating continues at 'CRISIL AA/Watch Developing' and short-term rating was reaffirmed at 'CRISIL A1+'. CRISIL also withdrew ratings for ₹6,089 Crore of NCDs pending transfer to Vedanta Aluminium Metal Ltd post-demerger.
CRISIL downgraded Krystal Integrated Services Limited's long-term rating to 'Crisil BBB+/Negative' and short-term rating to 'Crisil A2'. The rating action on ₹388 Crore facilities reflects stretched working capital cycles and increased group-level loans. The outlook remains Negative due to liquidity moderation.