Credit Rating Update
Krishana Phoschem Bank Facilities Remain on Rating Watch as CRISIL Enhances Rated Facilities to ₹1,125 Crore
NSE
KRISHANA
BSE
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Krishana Phoschem Limited has informed the stock exchange that CRISIL Ratings has reviewed and reaffirmed its bank facility ratings, while continuing them under ‘Rating Watch with Developing Implications’. The total rated bank facilities have been enhanced to ₹1,125 crore from ₹756 crore.
PRICE-SENSITIVE TRIGGER
Event: CRISIL credit rating review and enhancement of rated bank facilities.
Type: Credit Rating Update
Impact: Positive
Immediate Effect: While the ratings remain unchanged at CRISIL A+ (Long Term) and CRISIL A1 (Short Term), they continue to remain on Rating Watch with Developing Implications, indicating that CRISIL expects a material event or development that could result in either an upgrade or downgrade depending on its outcome.
Financials:
Key Metrics:
- Total Bank Facilities Rated: ₹1,125 crore (Enhanced from ₹756 crore)
- Long-Term Rating: CRISIL A+ / Watch Developing
- Short-Term Rating: CRISIL A1 / Watch Developing
Highlight:
- Rated Bank Facilities Enhanced: ₹1,125 crore
What Happened ?
Krishana Phoschem Limited informed NSE under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 that CRISIL Ratings has reviewed the company’s bank facilities.
The review enhanced the total rated banking facilities from ₹756 crore to ₹1,125 crore while retaining the existing long-term and short-term ratings under “Rating Watch with Developing Implications.”
Key details
Credit Rating Review:
- CRISIL has assigned CRISIL A+ / Watch Developing to the company’s long-term bank facilities.
- Short-term facilities continue to carry CRISIL A1 / Watch Developing.
- The rating watch status remains unchanged following the review.
Enhanced Banking Facilities:
- Total facilities rated increased to ₹1,125 crore.
- The enhancement reflects expansion in the company’s sanctioned banking limits rather than a revision in rating quality.
Bank-wise Rated Facilities:
The rated facilities include multiple banking arrangements comprising:
- Cash Credit facilities.
- Letter of Credit facilities.
- Loan Equivalent Risk Limits.
- Proposed Fund-Based Limits.
- Proposed Non-Fund Based Limits.
- Term Loans.
Major lending institutions include:
- State Bank of India
- ICICI Bank
- HDFC Bank
- YES Bank
- Axis Bank
- Shinhan Bank
Note:
- The filing represents a regulatory disclosure regarding credit rating surveillance and does not contain any financial results or operational performance update.
Risk Analysis
Summary:
- The ratings continue under “Rating Watch with Developing Implications,” indicating that CRISIL is monitoring developments that could influence the future rating direction.
Key Risks:
- Rating Watch status remains active.
- Future developments may lead to a rating upgrade or downgrade.
- Credit profile remains subject to continuous surveillance by CRISIL.
Worst Case:
- If developments are viewed negatively by the rating agency, the company could face a downgrade, potentially increasing borrowing costs and affecting financing flexibility.
Risk Level: Medium
Company Commentary
- The company informed the exchanges pursuant to Regulation 30 of SEBI (LODR) Regulations.
- CRISIL reviewed the bank facilities on 9 July 2026.
- Long-term rating remains CRISIL A+ / Watch Developing.
- Short-term rating remains CRISIL A1 / Watch Developing.
- Total rated bank facilities have been enhanced to ₹1,125 crore.
Official Exchange Filing: Krishana Phoschem Limited
