CRISIL rates Nahar Industrial Enterprises' Rs. 1100 crore bank facilities A-/Stable and A2+

Nahar Industrial Enterprises Ltd. has announced initial ratings from CRISIL, assigning a Long Term: A-/Stable and Short Term: A2+ rating to its Bank Facilities amounting to Rs. 1100 Crore, with CRISIL also providing a total Bank Loan Facilities rating of Crisil A-/Stable and a Short Term Rating of Crisi A2+ for the same Rs. 1100 Crore Bank Loan Facilities; these ratings are valid until March 31, 2027, and encompass various instruments including Cash Credit from Punjab National Bank (Rs. 56.4), IDBI Bank Limited (Rs. 111.7), Indian Bank (Rs. 76.2), State Bank of India (Rs. 186.5), and Bank of Baroda (Rs. 49.2), alongside Letter of Credit & Bank Guarantee facilities from IDBI Bank Limited, Indian Bank, and Bank of Baroda, Loan Equivalent Risk Limits from IDBI Bank Limited and State Bank of India, Long Term Loans from IDBI Bank Limited, Indian Bank, State Bank of India, Axis Bank Limited, and HDFC Bank Limited, a Proposed Long Term Bank Loan Facility of Rs. 30.22, and various other instruments rated by CRISIL, while SEBI, MCA, RBI, and other agencies maintain oversight over specific securities and borrowing programs, with debt securities and bank loans subject to regulatory purview by SEBI, RBI, or MCA.