Pennar Industries Ltd announced that CARE Ratings Limited has reaffirmed its ratings on various bank facilities and instruments, including Long Term Bank Facilities at CARE A; Stable, enhanced from 754.46 to 1,067.52, and Short Term Bank Facilities at CARE A1, reduced from 1,012.50 to 957.50. The reaffirmed ratings encompass a range of instruments including Term Loans from Bajaj Finance Ltd (73.91), Axis Finance Ltd (65.78), Bank of Baroda (56.94), Bandhan Bank Ltd (50.46), State Bank of India (43.47), Axis Bank Ltd (39.37), Kotak Mahindra Bank Ltd (37.71), HDFC Bank Ltd (18.91), Punjab National Bank (7.99), Punjab & Sind Bank (2.98), Proposed Term Loans (165.00), Fund Based Limits from State Bank of India (220.00), Bandhan Bank Ltd (58.50), Axis Bank Ltd (56.50), Yes Bank Ltd (50.00), HDFC Bank Ltd (45.00), Punjab National Bank (40.00), Punjab & Sind Bank (15.00), Indian Bank (10.00), RBL Bank Limited (10.00), Electronic Vendor Finance Scheme (70.00), Letter of Credit (79.00), Letter of Credit/Bank Guarantee (202.00, 150.00, 135.00, 118.50, 85.00, 72.50, 45.00), Forward Contract (0.50), while CareEdge Ratings provided a rating reflecting opinions as on the date of the rating for bank facilities/instruments, and CARE Ratings Ltd. also noted a review with the issuer not cooperating for certain bank facilities.
