ICRA upgrades credit ratings of MTAR Technologies
Hyderabad: MTAR Technologies Ltd (“MTAR”), a leading precision engineering solutions company engaged in manufacturing and development of mission critical precision components with close tolerances and critical assemblies catering to nuclear, space, defense and clean energy sectors has received upgrade in credit ratings from ICRA.
Rating Details
| Credit | Rating | ||||||||
| Rating | Instrument | Existing Rating | Revised Rating | Action | |||||
| Agency | |||||||||
| Long Term | |||||||||
| Fund based | [ICRA]A- (Positive) | [ICRA]A (Stable) | Upgraded | ||||||
| /CC | |||||||||
| Long Term | |||||||||
| Fund based | [ICRA]A- (Positive) | [ICRA]A (Stable) | Upgraded | ||||||
| TL | |||||||||
| ICRA | Long | ||||||||
| Limited | term/Short | [ICRA]A- (Positive) | [ICRA]A (Stable) | Upgraded | |||||
| Term- Non- | /[ICRA]A2+ | /[ICRA]A1 | |||||||
| fund Based | |||||||||
| Long-term | [ICRA]A-(Positive) | [ICRA]A (Stable) | Upgraded | ||||||
| Unallocated | |||||||||
Instrument Details
| ISIN | No/ Bank | Instrument | Date of | Coupon | Maturity | Amount | Current | Rating | ||
| Name | Name | Issuance | Rate | Date | Rated | and Outlook | ||||
| / | (RS | |||||||||
| Sanction | Crore) | |||||||||
| State | Bank | of | Cash Credit | – | – | – | 30.00 | [ICRA]A (Stable) | ||
| India | ||||||||||
| HDFC | Bank | Cash Credit | – | – | – | 5.00 | [ICRA]A (Stable) | |||
| Limited | ||||||||||
| State | Bank | of | Export | – | – | – | 28.00 | [ICRA]A (Stable) | ||
| India | Packing | |||||||||
| Credit | ||||||||||
| State | Bank | of | Term Loan-1 | Jul-2020 | – | Mar- | 30.80 | [ICRA]A (Stable) | ||
| India | 2026 | |||||||||
| HDFC | Bank | Term Loan-2 | Sep-2021 | – | Sep-2026 | 80.00 | [ICRA]A (Stable) | |||
| Limited | ||||||||||
| State | Bank | of | Bank | – | – | – | 100.00 | [ICRA]A | (Stable)/ | |
| India | Guarantee | [ICRA]A1 | ||||||||
| State | Bank | of | Letter | of | – | – | – | 10.00 | [ICRA]A | (Stable)/ |
| India | Credit | [ICRA]A1 | ||||||||
| NA | Unallocated | – | – | – | 1.20 | [ICRA]A (Stable) |