Crisil Ratings reaffirmed bank facilities for Samkrg Pistons & Rings Ltd, revising outlook to 'Negative'

Samkrg Pistons & Rings Ltd announced that Crisil Ratings has reaffirmed its ratings on the company's bank facilities, including Long Term at Rs.98.59 Crore with an outlook revised from 'Stable' to 'Negative' and reaffirmed at BBB+/Negative, and Short Term reaffirmed at A2. Additionally, Crisil Ratings reaffirmed the rating on Bank Guarantee at 0.05 (Crisil A2), Bill Discounting at 7.3 (Crisil BBB+/Negative), Cash Credit at 34 (Crisil BBB+/Negative), Electronic Vendor financing scheme at 8 (Crisil A2), Letter of Credit at 0.18 (Crisil A2), Letter of Credit at 19.82 (Crisil A2), Proposed Long Term Bank Loan Facility at 0.11 (Crisil BBB+/Negative), Standby Line of Credit at 3.3 (Crisil BBB+/Negative), Term Loan at 7.15 (Crisil BBB+/Negative), Term Loan at 13.01 (Crisil BBB+/Negative), Term Loan at 5.67 (Crisil BBB+/Negative), and Term Loan at 5.67 (Crisil BBB+/Negative), all backed by State Bank of India, with Shinhan Bank also rating a Term Loan at 5.67 (Crisil BBB+/Negative); CRISIL has also reaffirmed the Long Term rating at BBB+ with a Negative outlook and the Short Term rating at A2, while noting that the ratings reflect the likelihood of timely payment. SEBI, MCA, RBI, and an Unknown agency have not assigned any ratings to Samkrg Pistons & Rings Ltd’s instruments.