Acuite updates Goa Carbon's long-term credit rating to ‘BBB+'

18 Apr 2022 , 01:48 PM

Goa Carbon Limited informed that Acuite Ratings & Research Limited – the credit rating agency, has revised the long-term rating to ‘ACUITE BBB+’ from ‘ACUITE BBB-‘ and the short-term rating In ACUITE A2’ from ‘ACUITE A3+’ on the Rs273 crore bank facilities of the company. Further, Acuite has reaffirmed the outlook as ‘Stable’.

Company’s long-term instruments are worth Rs82.50 crore and has received an upgrade from the credit rating agency. Whereas, short-term instruments of the company reviewed by Acuite are worth Rs190.50 crore.

Long-term instruments consist of cash credit limit, working capital term loan from State Bank of India, and cash credit and working capital term loan from Bank of India.

Goa Carbon Ltd is currently trading at Rs545.15 down by Rs6.6 or 1.2% from its previous closing of Rs551.75 on the BSE. Its scrip has touched intraday high and low of Rs560.45 and Rs530.85 respectively.