JDIL/SECT/2021-2022/ | April 29, 2021 |
BSE Ltd | National Stock Exchange of India Limited |
25th Floor, P.J. Towers, | Exchange Plaza, C-1,Block-G |
Dalal Street, Mumbai-400 001 | Bandra-KurlaComplexs |
Security Code: 511034 | Bandra (E), Mumbai - 400 051 |
Security Code: JINDRILL |
Sub: Compliances under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015- Credit Ratings
Dear Sirs,
Pursuant to Regulation 30(6) read with Part A of Schedule Ill of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, below mentioned are the details of the ratings for the company assigned by CRISIL:
Total Bank Loan Facilities Rated
Long Term Rating
Short Term Rating
Rs.421 Crore
CRISIL A-/Stable (Outlook revised from 'Negative' and rating reaffirmed)
CRISIL A2+ (Reaffirmed)
The letter giving details of the rating is received by the company on April 29, 2021 and enclosed herewith for your information.
You are requested to kindly take the same on record.
Thanking you,
For Jindal Drilling and Industries Limited
(Saurabh Agrawal)
Company Secretary
CONFIDENTIAL
RL/JINDRIL/260319/BLR/0421/08138
April 28, 2021
Mr. Pawan Rustagi
Chief Financial Officer
Jindal Drilling and Industries Limited 3rd Floor, Keshava Building
Bandra Kurla Complex, Bandra East
Mumbai City
Mumbai City - 400051
Tel - 9810039690
Dear Mr. Pawan Rustagi,
Re: Review of CRISIL Ratings on the bank facilities of Jindal Drilling and Industries Limited
All ratings assigned by CRISIL Ratings are kept under continuous surveillance and review.
Please find in the table below the ratings outstanding for the debt instruments/facilities of the company, and the rating actions by CRISIL Ratings on the ratings as on date.
Total Bank Loan Facilities Rated | Rs.421 Crore |
Long Term Rating | CRISIL A-/Stable (Outlook revised from 'Negative' and rating |
reaffirmed) | |
Short Term Rating | CRISIL A2+ (Reaffirmed) |
(Bank-wise details as per Annexure 1)
As per our Rating Agreement, CRISIL Ratings would disseminate the ratings, along with the outlook, through its publications and other media, and keep the ratings, along with the outlook, under surveillance over the life of the instrument/facility. CRISIL Ratings reserves the right to withdraw, or revise the ratings, along with the outlook, at any time, on the basis of new information, or unavailability of information, or other circumstances which CRISIL Ratings believes may have an impact on the ratings.
In the event of the company not availing the proposed facilities within a period of 180 days from the date of this letter, a fresh letter of revalidation from CRISIL Ratings will be necessary.
Should you require any clarification, please feel free to get in touch with us.
With warm regards,
Yours sincerely,
Nitesh Jain | Nivedita Shibu |
Director - CRISIL Ratings | Associate Director - CRISIL Ratings |
Disclaimer: A rating by CRISIL Ratings reflects CRISIL Ratings' current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by CRISIL Ratings. Our ratings are based on information provided by the issuer or obtained by CRISIL Ratings from sources it considers reliable. CRISIL Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by CRISIL Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. CRISIL Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. CRISIL Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. CRISIL Ratings' criteria are available without charge to the public on the web site, www.crisil.com. CRISIL Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by CRISIL Ratings, please contact Customer Service Helpdesk at CRISILratingdesk@crisil.com or at 1800-267-1301.
CRISIL Ratings Limited
(A subsidiary of CRISIL Limited)
Corporate Identity Number: U67100MH2019PLC326247
____________________________________________________________________________________
___Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai- 400 076. Phone: +91 22 3342 3000 | Fax: +91 22 4040 5800
www.crisil.com/ratings
Annexure 1 - Bank-wise details of various facility classes (outstanding facilities)
S.No. | Bank Facility | Bank | Amount (Rs. | Outstanding Rating |
in Crore) | ||||
1 | Non-Fund Based Limit | State Bank of India | 77 | CRISIL A2+ |
2 | Fund-Based Facilities | State Bank of India | 10 | CRISIL A-/Stable |
3 | External Commercial | IndusInd Bank Limited | 270 | CRISIL A-/Stable |
Borrowings | ||||
4 | Non-Fund Based Limit | ICICI Bank Limited | 20 | CRISIL A2+ |
5 | Fund-Based Facilities | ICICI Bank Limited | 1.9 | CRISIL A-/Stable |
6 | Non-Fund Based Limit | HDFC Bank Limited | 30 | CRISIL A2+ |
7 | Fund-Based Facilities | HDFC Bank Limited | 12 | CRISIL A-/Stable |
8 | Proposed Long Term Bank | -- | 0.1 | CRISIL A-/Stable |
Loan Facility | ||||
Total | 421 |
Disclaimer: A rating by CRISIL Ratings reflects CRISIL Ratings' current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by CRISIL Ratings. Our ratings are based on information provided by the issuer or obtained by CRISIL Ratings from sources it considers reliable. CRISIL Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by CRISIL Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. CRISIL Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. CRISIL Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. CRISIL Ratings' criteria are available without charge to the public on the web site, www.crisil.com. CRISIL Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by CRISIL Ratings, please contact Customer Service Helpdesk at CRISILratingdesk@crisil.com or at 1800-267-1301.
CRISIL Ratings Limited
(A subsidiary of CRISIL Limited)
Corporate Identity Number: U67100MH2019PLC326247
____________________________________________________________________________________
___Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai- 400 076. Phone: +91 22 3342 3000 | Fax: +91 22 4040 5800
www.crisil.com/ratings
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Jindal Drilling and Industries Limited published this content on 28 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2021 16:39:07 UTC.