Danish Power Gets Credit Upgrade, Expands Facility to Rs 185 crore
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Danish Power’s credit rating was upgraded by CRISIL, allowing it to expand its bank loan facilities to Rs 185 crore, which should lower borrowing costs.
- Rating upgrade: Long‑term rating lifted to A‑/Stable (from BBB+/Positive) and short‑term to A2+ (from A2).
- Facility expansion: Total loan pool now Rs 185 crore, up Rs 51 crore from the previous Rs 134 crore.
- Break‑down of limits: Cash‑credit lines total Rs 10 crore (SBI 1 cr, ICICI 8 cr, YES 1 cr); non‑fund based limits add up to Rs 175 crore (SBI 50 cr, ICICI 67 cr, YES 58 cr).
- Cost impact: The higher rating could shave 0.5‑1.0 % off annual interest spreads, giving the company cheaper financing and more flexibility for working‑capital, capex or acquisitions.
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