June 04, 2022 | |
Corporate Communications, | The Department of Corporate Services, |
National Stock Exchange of India Ltd., | BSE Limited, P J Towers, |
Exchange Plaza, Plot No.C/1, G Block, | Dalal Street, Mumbai -400001 |
India. | |
Bandra-Kurla Complex, Bandra (E), | |
Mumbai - 400051. | |
Scrip Code : 541929 | Security ID : SGIL |
Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), 2015 - CRISIL Limited on the Bank Facilities & Fixed Deposits of the Company.
Dear Sir/ Madam,
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, this is to inform you regarding the credit rating of Long Term/ Short Term Bank facilities as well as Fixed Deposits being availed by the Company as summarized below:
Tenure | Rating |
Long Term Rating | 'CRISIL BBB-/Stable' |
Short Term Rating | 'CRISIL A3' |
FD Ratings | 'FA-/Stable' |
We are also enclosing herewith scanned copies of the letters received from CRISIL Ratings for your kind perusal.
We request you to please take the above information on your record.
Thanking you.
Yours faithfully,
Encl.: As above.
CONFIDENTIAL
RL/SGYGIPL/288642/BLR/0622/35545
June 03, 2022
Mr. S. R. Shirgaonkar
Managing Director
Synergy Green Industries Limited
392 E, Shahupuri
Post Box No. 201, Kolhapur - 416216 9011050068
Dear Mr. S. R. Shirgaonkar,
Re: Review of CRISIL Ratings on the bank facilities of Synergy Green 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.101.06 Crore |
Long Term Rating | CRISIL BBB-/Stable (Reaffirmed) |
Short Term Rating | CRISIL A3 (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. Please visit www.crisilratings.com and search with the name of the rated entity to access the latest rating/s.
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.
This letter will remain valid till March 31, 2023. After this date, please insist for a new rating letter (dated later than March 31, 2023). Please visit www.crisilratings.com to confirm that the rating continues to be under surveillance and the rating is still valid.
Should you require any clarification, please feel free to get in touch with us.
With warm regards,
Yours sincerely,
Jumana Badshah | Nivedita Shibu |
Associate 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.crisilratings.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 visit www.crisilratings.comor contact Customer Service Helpdesk at CRISILratingdesk@crisil.comor 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 3342 3001
www.crisilratings.com
Annexure 1 - Bank-wise details of various facility classes (outstanding facilities)
S.No. | Bank Facility | Bank | Amount (Rs. | Outstanding Rating |
in Crore) | ||||
1 | Cash Credit | The Saraswat Co-Operative | 25 | CRISIL BBB-/Stable |
Bank Limited | ||||
2 | Cash Credit | IndusInd Bank Limited | 25 | CRISIL BBB-/Stable |
3 | Proposed Working Capital | -- | 5.13 | CRISIL A3 |
Facility | ||||
4 | Term Loan | The Saraswat Co-Operative | 25.93 | CRISIL BBB-/Stable |
Bank Limited | ||||
5 | Term Loan | IndusInd Bank Limited | 20 | CRISIL BBB-/Stable |
Total | 101.06 |
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.crisilratings.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 visit www.crisilratings.comor contact Customer Service Helpdesk at CRISILratingdesk@crisil.comor 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 3342 3001
www.crisilratings.com
CONFIDENTIAL
RL/SGYGIPL/288642/FD/0622/35546
June 03, 2022
Mr. S. R. Shirgaonkar
Managing Director
Synergy Green Industries Limited
392 E, Shahupuri
Post Box No. 201,
Kolhapur - 416216 9011050068 / 0231-2658375
Dear Mr. S. R. Shirgaonkar,
Re: Review of CRISIL Rating for Rs.14.5 of Fixed Deposit of Synergy Green Industries Limited
All ratings assigned by CRISIL Ratings are kept under continuous surveillance and review.
CRISIL Ratings has, after due consideration, reaffirmed the "F A-/Stable" (pronounced "F A minus with stable outlook") rating for the captioned Debt Programme, This rating indicates degree of safety regarding timely payment of interest and principal is satisfactory. Changes in circumstances can affect such issues more than those in the higher rated categories.
As per our Rating Agreement, CRISIL Ratings would disseminate the rating along with outlook through its publications and other media, and keep the rating along with outlook under surveillance for the life of the instrument. CRISIL Ratings reserves the right to withdraw, or revise the rating / outlook assigned to the captioned programme 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 rating.
Should you require any clarification, please feel free to get in touch with us.
With warm regards,
Yours sincerely,
Jumana Badshah | Nivedita Shibu |
Associate 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.crisilratings.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 visit www.crisilratings.comor contact Customer Service Helpdesk at CRISILratingdesk@crisil.comor 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 3342 3001
www.crisilratings.com
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Synergy Green Industries Ltd. published this content on 04 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 June 2022 04:51:04 UTC.