Salasar Techno Engineering's credit ratings revised, placed on negative watch by Infomerics and ICRA

Salasar Techno Engineering Ltd announced revisions and reaffirmations to its credit ratings from multiple agencies, reflecting ongoing concerns. Infomerics Valuation and Rating Ltd revised both the Long Term Bank Facilities and Short Term Bank Facilities to IVR A/RWNI and IVR A1/RWNI respectively, placing the ratings on Watch with Negative Implications, while reaffirming them; ICRA Ltd reaffirmed the Bank Loan Facilities amounting to 831.73 Crore each at IVR A/ RWNI and IVR A1/RWNI, also placing them on Watch with Negative Implications; INFOMERICS has rated the Long term / Short term facility as N/A, with the rating valid for one year from October 05, 2026, requiring revalidation if the facility is not availed within 3 months, and noting that surveillance/review will be undertaken at least annually; additionally, various instruments including GECL - TL 1, GECL - TL 2, Cash Credit, Bank Guarantee, Letter of Credit, Loan Equivalent Risk Limit, Proposed CC, and Proposed BG, were rated IVR A and IVR A1 by Infomerics and IVR, with Axis Bank Loan Equivalent also rated A1/RWNI by IVR, all deemed Not Applicable and RBI Simple.