Innova Captab Ltd announced credit rating revisions and updates from multiple agencies, including CARE Ratings Limited, CareEdge Ratings, and an unspecified rating agency. CARE Ratings Limited upgraded the Long Term Bank Facilities from CARE A; Positive to CARE A+; Stable, reducing the amount from 426.72 to 419.60, and upgraded Short Term Bank Facilities from CARE A1 to CARE A1+. Additionally, CARE Ratings Limited revised the rating for an unspecified instrument with an unspecified amount and rating, noting an intimation under regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and also indicated a periodic surveillance/review with the possibility of revision, reaffirmation, or withdrawal; the agency further noted that ratings for certain bank facilities are currently being issued as "ISSUER NOT COOPERATING." CareEdge Ratings indicated that their rating reflects opinions as on the date of the rating for bank facilities/instruments, while the rating from the unknown agency remains unspecified. The instruments subject to rating actions include Long Term Bank Facilities, Short Term Bank Facilities, Term Loans from HDFC Bank Ltd (repayable in quarterly instalments, amounting to 159.60), Term Loans from State Bank of India (repayable in monthly instalments, amounting to 77.00), Fund Based Limits from State Bank of India (Cash Credit, 65.00), Fund Based Limits from State Bank of India (E-VFS, 50.00), Fund Based Limits from Yes Bank Ltd (Cash Credit, 48.00, with a sub-limit of LC/BG), Fund Based Limits from HDFC Bank Ltd (Cash Credit, 20.00), and Non-Fund Based Limits from State Bank of India (LC/BG, 40.00).
