Crisil downgraded Jai Balaji Industries' Rs. 995 Crores in bank loan facilities

Jai Balaji Industries Ltd. has announced downgrades to its bank loan facilities by Crisil Ratings, impacting both long-term and short-term ratings. Specifically, Crisil downgraded the Rs. 995 Crores in Bank Loan facilities from 'Crisil BBB+/ Stable’ to 'Crisil BBB/Stable' and from 'Crisil A2' to 'Crisil A3+'. The rating agency also downgraded the Long Term Rating and Short Term Rating from "Crisil BBB+/Stable" and ‘Crisil A2' respectively, to Crisil BBB/Stable and Crisil A3+. While the outlook remains stable, reflecting the benefits of promoter experience and market position, Crisil noted that improvement in scale, efficiency, and margin exceeding 9% would be necessary for an upward revision.