Greenpanel Industries receives rating reaffirmations and revisions from multiple agencies

Greenpanel Industries Ltd announced reaffirmations and revisions to ratings across multiple agencies, including CARE Ratings Limited, CARE Ratings Ltd., CARE, CRISIL, and ICRA. CARE Ratings reaffirmed the ratings for the company's bank facilities, totaling Rs.240 crore, comprising Bank Facilities of Rs.160 crore and Long Term Bank Facilities of Rs.80 crore, assigning CARE A+; Stable/ Care A1+ with an enhanced limit from 120.00, while also revising the outlook from Negative; furthermore, CARE assigned a rating of BBB to a Bank Loan of Rs 500 crore, while CRISIL reaffirmed a rating of A1+ for Commercial Paper of Rs 100 crore, and ICRA downgraded debentures of Rs 300 crore to AA-. Additionally, certain instruments, including Fund-based - LT- Cash Credit, Non-fund-based - LT/ ST -BG/LC, and Non-fund-based - ST-Letter of credit, were withdrawn by CARE Ratings Ltd., and a Fund-based - LT-Term Loan of Rs.80 crore and Fund-based/Non-fund-based - LT/ST of Rs.160.00 were assigned.