Hot Pursuit
Sheela Foam Ltd announced reaffirmations, affirmations, a withdrawal, and an assignment of ratings by India Ratings and Research (Ind-Ra) and India Ratings. India Ratings and Research reaffirmed the IND AA/Stable rating for Debt instruments and the IND AA/S table, reaffirmed INE916U08038 and INE916U08012 at IND AA/S, affirmed Bank Loan Facilities and NCDs with the withdrawal of the Issuer Rating, affirmed bank loan facilities at IND AA/Stable/IND A1+, affirmed non-convertible debentures at IND AA/Stable, affirmed a Fund Based Working Capital Limit at IND A1+ (Sumitomo Mitsui Banking Corp), affirmed fund-based working capital limits at IND AA/Stable (State Bank of India), affirmed fund-based/Non-fund-based limits at IND AA/Stable/IND A1+ (ICICI Bank and Yes Bank Ltd), affirmed a term loan at IND AA/Stable (Kotak Mahindra Bank), and affirmed a proposed bank loan at IND AA/Stable/IND A1+; additionally, a non-convertible debenture with ISIN INE916U08020 and maturity 6 October 2025 was withdrawn, while the amount of non-convertible debentures was reduced from 7,250 to 1,812.50. No rating data was provided by other agencies, and placeholder ratings were noted by India Ratings.