Soil & Building  Finance Updates

ICRA reaffirms credit ratings of Soil & Building Finance LTD

 

The Credit Rating agency M/s. ICRA Ltd has on March 21, 2023, reaffirmed the ratings of Soil & Building LTD. CRA has reaffirmed [ICRA]A+ (pronounced ICRA A plus) with stable outlook for Long Term and [ICRA] A1+ (pronounced ICRA A one plus) rating for short term fund based limits and commercial paper programmers.CRA Ltd in its rating rationale further stated that, it has done a preliminary evaluation of the reasons for the under recovery of revenues and has estimated the capital cover for debt holders based on the current LTV profile of the Company and is of the view that available capital cover is sufficient for the rating level if the gold prices were to correct by 15-18 % from the current levels.