ICRA upgrades credit ratings of MTAR Technologies

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 RatingAction
   Long  Term      
   Fund  based  [ICRA]A- (Positive) [ICRA]A (Stable)Upgraded
   Long  Term      
   Fund  based  [ICRA]A- (Positive) [ICRA]A (Stable)Upgraded
 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

Instrument Details

ISINNo/  BankInstrumentDate  ofCouponMaturityAmountCurrentRating
Name Name IssuanceRateDateRatedand Outlook
     /  (RS  
     Sanction  Crore)  
StateBankofCash Credit30.00[ICRA]A (Stable)
HDFCBankCash Credit5.00[ICRA]A (Stable)
StateBankofExport 28.00[ICRA]A (Stable)
India  Packing       
StateBankofTerm Loan-1Jul-2020Mar-30.80[ICRA]A (Stable)
India      2026   
HDFCBankTerm Loan-2Sep-2021Sep-202680.00[ICRA]A (Stable)
StateBankofBank 100.00[ICRA]A(Stable)/
India  Guarantee     [ICRA]A1 
India  Credit     [ICRA]A1 
NA  Unallocated1.20[ICRA]A (Stable)

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