ICRA places Tribhovandas Bhimji Zaveri Ltd ratings on watch with positive implications

Tribhovandas Bhimji Zaveri Ltd announced that ICRA has placed its ratings on rating watch with positive implications, reflecting the company's proposed association with the GRT group, with monitoring underway to assess the transaction's progress. Specifically, ICRA has placed the Long term / Short term (Fund-based - working capital) of Rs 900.00 crore, the Long term (Fund-based - Term loans) of Rs 15.00 crore, and the Fund-based working capital of Rs 900.00 crore, all previously rated [ICRA] A- / [ICRA]A2+ and [ICRA] A- respectively, on rating watch with positive implications; similarly, the Fund-based - Term loans of Rs 15.00 crore, rated [ICRA] A-, and the Fund-based working capital of Rs 900.00 crore, rated [ICRA]A- and [ICRA]A2+ have also been placed on watch with positive implications; furthermore, ICRA has withdrawn the Issuer rating of [ICRA]A- (Stable) and the ratings for Fund -based working capital/ Cash credit, while also noting ratings for Fund -based working capital of Rs 900.00 crore, rated [ICRA]A- and [ICRA]A2+, and Long -term – Fund based – Term loans of Rs 15.00 crore, rated [ICRA]A- on watch with positive implications, with no ratings found from other agencies.