Bombay Super Hybrid Seeds Ltd announced that CARE Ratings Limited and CARE Ratings Ltd. have downgraded and withdrawn ratings on several of its bank facilities, including Long Term Bank Facilities amounting to Rs 20.00 crore, Long Term / Short Term Bank Facilities totaling Rs 105.00 crore, and an unspecified rating previously held, all now categorized as ISSUER NOT COOPERATING and downgraded from CARE BBB-; Stable, with the Long Term / Short Term facilities also downgraded from CARE A3 to CARE A4+; the ratings were withdrawn by the agency; CARE Ratings Limited also noted a rating agreement dated December 13, 2024, for Bank Facilities, and provided remarks regarding Fund Based Limits - Cash Credit (ICICI Bank Ltd) of Rs 20.00 crore, Fund Based /Non Fund Based Limits - Cash Credit (Yes Bank Ltd) of Rs 50.00 crore with sublimits for Letter of Credit and Bank Guarantee at Rs 3.00 crore each, and Fund Based /Non Fund Based Limits - Cash Credit (IndusInd Bank Ltd) of Rs 35.00 crore with sublimits for Letter of Credit and Bank Guarantee at Rs 5.00 crore each, alongside a rating for Proposed limits of Rs 20.00 crore, while CareEdge Ratings provided a general note regarding ratings reflecting opinions as on a specific date, and N/A data was noted for both agencies.
