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Solar Industries India Limited received an [ICRA]A1+ rating for its commercial paper of Rs. 500 Crore from ICRA Limited.
CRISIL Ratings Limited has placed the bank loan facilities and non-convertible debentures of Solar Industries India Limited on 'Rating Watch with Developing Implications'.
ICRA has reaffirmed the [ICRA]A1+ rating on the company's commercial paper programme of Rs. 500 Crore. This maintains the company's current debt credit profile.
Solar Industries India Limited received a credit rating upgrade on its outlook from CRISIL Ratings. The ratings for its ₹1,479.50 Crore bank facilities and ₹35 Crore NCDs were reaffirmed at CRISIL AA+, with the outlook revised from 'Stable' to 'Positive' due to improved business risk profiles and defense sector growth.