Credit Rating Reaffirmation
Quess Credit Rating: ICRA Reaffirms AA (Stable) and A1+ Ratings
NSE
QUESS
BSE
539978
Quess Corp Limited has announced that ICRA Limited has reaffirmed its credit ratings across multiple borrowing facilities, including a [ICRA]AA (Stable) rating for long-term facilities and [ICRA]A1+ for short-term facilities and commercial paper. The reaffirmation covers total rated facilities of ₹1,222 crore, reflecting continued confidence in the company’s credit profile.
PRICE-SENSITIVE TRIGGER
Event: Quess Credit Rating
Type: Credit Rating Reaffirmation
Impact: Neutral
Immediate Effect: The reaffirmation maintains Quess Corp’s existing credit profile, supporting its access to funding while indicating continued confidence from ICRA in the company’s financial strength and liquidity.
Metrics:
- Total Rated Facilities: ₹1,222 crore
- Long-Term Fund-Based Limits: ₹930 crore – [ICRA]AA (Stable); Reaffirmed
- Short-Term Non-Fund Based Limits: ₹82 crore – [ICRA]A1+; Reaffirmed
- Short-Term Interchangeable Limits: ₹222 crore – [ICRA]A1+; Reaffirmed
- Long-Term/Short-Term Unallocated Limits: ₹110 crore – [ICRA]AA (Stable) / [ICRA]A1+; Reaffirmed
- Commercial Paper: ₹100 crore – [ICRA]A1+; Reaffirmed
- Revenue: Not disclosed
- EBITDA: Not disclosed
- PAT: Not disclosed
- Margins: Not disclosed
- QoQ Movement: Not applicable
- YoY Movement: Not applicable
- Segment Performance: Not disclosed.
Highlight:
- Total Rated Facilities: ₹1,222 crore
What Happened ?
Quess Corp informed the stock exchanges that ICRA Limited has reaffirmed its credit ratings for the company’s borrowing facilities. The reaffirmation covers long-term fund-based limits, short-term non-fund based limits, interchangeable limits, unallocated facilities, and commercial paper, with total rated facilities amounting to ₹1,222 crore.
key details
Key Highlights
- ICRA Limited reaffirmed Quess Corp’s credit ratings.
- Long-Term Fund-Based Limits:
- ₹930 crore.
- [ICRA]AA (Stable); Reaffirmed.
- Short-Term Non-Fund Based Limits:
- ₹82 crore.
- [ICRA]A1+; Reaffirmed.
- Short-Term Interchangeable Limits:
- ₹222 crore.
- [ICRA]A1+; Reaffirmed.
- Long-Term/Short-Term Unallocated Facilities:
- ₹110 crore.
- [ICRA]AA (Stable) / [ICRA]A1+; Reaffirmed.
- Commercial Paper Programme:
- ₹100 crore.
- [ICRA]A1+; Reaffirmed.
- Total Rated Facilities:
- ₹1,222 crore.
- The company stated that the rating information is available on the websites of Quess Corp and ICRA.
Business Impact:
- The reaffirmation reflects continued confidence in Quess Corp’s credit quality and financial profile. Maintaining strong investment-grade ratings supports the company’s ability to access debt markets, manage working capital efficiently, and raise funds at competitive borrowing costs when required.
Risk Analysis
Summary:
- The announcement represents a reaffirmation of existing ratings rather than an upgrade. Future rating actions will depend on Quess Corp’s operating performance, leverage, liquidity, and overall business environment.
Key Risks:
- Ratings remain subject to periodic review by ICRA.
- Future business performance could influence subsequent rating actions.
- Changes in leverage or liquidity may affect the credit profile.
- Macroeconomic and industry conditions could impact future assessments.
Worst Case:
- A deterioration in financial performance, cash flows, or leverage metrics could result in a future downgrade of the company’s credit ratings.
Risk Level: Low
Company Commentary
According to Quess Corp Limited:
- ICRA has reaffirmed [ICRA]AA (Stable) for the company’s long-term borrowing facilities.
- ICRA has reaffirmed [ICRA]A1+ for short-term facilities and commercial paper.
- The reaffirmation covers total rated facilities of ₹1,222 crore and has been disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Official Exchange Filing: Quess Corp Limited
