Hot Pursuit
Universal Cables Ltd announced that CARE Ratings Ltd. has reaffirmed and enhanced ratings on its various bank loan facilities, including Long-Term / Short-Term Bank Facilities aggregating to Rs. 95.00 crores and Rs. 1,509.00 crores, and Short-Term Bank Facilities amounting to Rs. 2,375.00 crores, all carrying ratings of CARE A; Stable / CARE A1, with enhancements from previous levels of Rs. 65.00 crores, Rs. 1,205.00 crores, and Rs. 1,800.00 crores respectively; CARE Ratings also initially assigned ratings to Fund-based - LT-Cash Credit of Rs. 825.00, Non-fund-based - LT/ ST- Derivative Limits of Rs. 95.00, Non-fund-based - ST- BG/LC of Rs. 2375.00, and Term Loan - Long Term of Rs. 684.00, all rated CARE A; Stable and CARE A1; additionally, CareEdge Ratings reaffirmed ratings on bank loan facilities, while CARE Ratings Limited disseminated information as per applicable law and regulation, and a rating was withdrawn on July 4, 2023.