Garware Technical Fibres Limited (GARFIBRES) — Announcement

📢 Key Event
ICRA reaffirmed AA+/A1+ ratings on ₹400 crore working capital facilities.

🔮 What's Next
Rating surveillance to occur within one year; ICRA reserves right to review/revise ratings based on new information or material changes in terms/size of instruments.

💡 Investor Takeaway
The reaffirmed AA+/A1+ rating confirms Garware's stable credit profile and debt servicing capability, reducing refinancing risk for shareholders.

⚠️ Risks
Company must inform ICRA immediately of any default, delayed repayments, debt restructuring, fund-raising restrictions, or borrowing limit breaches.

ICRA Limited reaffirmed Garware Technical Fibres' credit rating at [ICRA]AA+ (Stable) for long-term and [ICRA]A1+ for short-term facilities on ₹400 crore in working capital limits across eight banks. The rating action maintains the company's creditworthiness assessment without changes to facility amounts or ratings. The reaffirmation covers facilities from ICICI Bank, Bank of Baroda, Citibank, HDFC Bank, Bank of India, DBS Bank, and HSBC Bank.

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