Safari Industries secures credit rating reaffirmations from CRISIL and IndusInd, HDFC, Axis, ICICI Banks

Safari Industries (India) Ltd announced reaffirmations of credit ratings across various instruments by multiple agencies. CRISIL reaffirmed its ratings for the company, including a CRISIL AA-/Stable rating for Total Bank Loan Facilities amounting to Rs. 150 Crore, alongside a CRISIL A1+ rating for the same Total Bank Loan Facilities of Rs. 150 Crore; further reaffirmations were assigned to Fund-Based Facilities with Induslnd Bank Limited (Rs. 25 Crore, CRISIL AA-/Stable), HDFC Bank Limited (Rs. 33.6 Crore, CRISIL AA-/Stable), Axis Bank Limited (Rs. 11.98 Crore, CRISIL AA-/Stable), and ICICI Bank Limited (Rs. 40.1 Crore, CRISIL AA-/Stable), as well as a Non-Fund Based Limit with Axis Bank Limited (Rs. 39.32 Crore, CRISIL A1+); additionally, ratings were reaffirmed for Long Term and Short Term instruments by unspecified agencies, though details regarding the agency and rating levels were not provided.