CARE Ratings reaffirmed ratings for TNPL’s bank facilities aggregating Rs 350.00, citing strong creditworthiness

Tamil Nadu Newsprint & Papers Ltd (TNPL) has received reaffirmations and received a rating from CareEdge Ratings, while CARE Ratings Ltd. and CARE Ratings Limited have reaffirmed ratings across various instruments. CARE Ratings Ltd. reaffirmed the ratings for Long-term / Short-term bank facilities aggregating Rs 350.00, Long-term bank facilities amounting to Rs 1,692.94, and Short-term bank facilities totaling Rs 1,725.00, all carrying CARE A; Stable / CARE A1, CARE A; Stable, and CARE A1 ratings respectively, with RBI involvement for certain instruments; additionally, CARE Ratings reaffirmed Long-term bank loans at CARE AAA, indicating strong creditworthiness. The reaffirmations reflect expectations of maintaining market position and improving margins, alongside an improving trend in Q1FY27, and cover instruments including Fund-based - LT/ ST - CC/PC/Bill Discounting, Fund-based/Non - fund-based - Short Term, Non-fund-based - ST- BG/LC, and Fund-based - LT- Term Loan, among others, while CareEdge Ratings noted TNPL's operating performance is expected to benefit from improved product realisations and project ramp-up, using a standalone approach for rating.