Brickwork Ratings has withdrawn the rating for Reliance Infrastructure Ltd.'s bank loan facilities with immediate effect. This follows the company's full repayment of the term loan, leaving no outstanding balance under the rated facility. The withdrawal was made at the company's request after obtaining a No Due Certificate from the bank, in line with BWR’s rating withdrawal policy.
RATING RATIONALE
27Mar2025
Reliance Infrastructure Ltd
Brickwork Ratings has withdrawn the ratings for the bank loan facilities of Reliance Infrastructure Ltd.
Particulars| Facilities/Instruments** | Amount (Rs.Crs.) | Tenure | Rating# | ||
|---|---|---|---|---|---|
| Previous | Present | Previous (30 Oct 2024) |
Present | ||
| Fund Based | 2.63 | 0.00 | Long Term |
BWR D
Reaffirmation |
Withdrawal |
| Grand Total | 2.63 | 0.00 | (Rupees Zero Crores Only) | ||
**Complete details of Bank facilities / NCDs is provided in Annexure-I
RATING ACTION / WITHDRAWAL
| Macro Economic Indicator | Sector | Industry | Basic Industry |
|---|---|---|---|
| Utilities | Power | Power | Power Distribution |
Reliance Infrastructure Limited is an infrastructure company engaged in developing projects through various Special Purpose Vehicles (SPVs) in sectors such as power, roads, metro rail, airports, and defense. The company operates in the utility sector with a presence across the value chain of power businesses, including generation, transmission, distribution, and power trading.
It is a public limited company, with its equity and debt listed on two recognized stock exchanges in India, BSE and NSE.
NON-COOPERATION WITH PREVIOUS CREDIT RATING AGENCY(IF ANY)| Creadit Rating Agency | Status and Reason for Non-Cooparation | Date of Press Release |
|---|---|---|
| CARE | Reliance Infra has been listed under the non-cooperation issuer category by CARE Ratings Limited due to inadequate information provided by the company and non-payment of surveillance fees by the company. | 25Feb2025 |
| Name of Instrument (NCD/Bank Loan /Non- Fund Based facilitates/ Commercial Paper etc.) | Current Rating (2025) | 2024 | 2023 | 2022 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Type | Tenure | Amount (Rs.Crs.) |
Rating | Date | Rating | Date | Rating | Date | Rating |
| Fund Based | LT | 0.00 |
Withdrawal
|
30Oct2024 |
BWR D
(Reaffirmation) |
10Feb2023 |
BWR D
(ISSUER NOT COOPERATING* /Reaffirmation) |
05Jan2022 |
BWR D
(Reaffirmation) |
| 0.00 |
NA
|
NA |
NA
|
02Aug2023 |
BWR D
(removal from ISSUER NOT COOPERATING* category/Reaffirmed) |
NA |
NA
|
||
| Grand Total | 0.00 | (Rupees Zero Crores Only) | |||||||
- General Criteria
- Approach to Financial Ratios
- Default Recognition and Default Curing Period
- BWR Withdrawal Policy
- Engineering Procurement and Construction (EPC) Companies
- Power-Power Distribution
| Analytical Contacts | |
|---|---|
|
Shreekant Digambar Kadere Senior Rating Analyst shreekant.dk@brickworkratings.com |
Niraj Kumar Rathi Director Ratings niraj.r@brickworkratings.com |
| 1-860-425-2742 | media@brickworkratings.com | |
Reliance Infrastructure Ltd
ANNEXURE-I
Details of Bank Facilities rated by BWR
| SL.No. | Name of the Bank/Lender | Type Of Facilities | Long Term(Rs.Crs.) | Short Term(Rs.Crs.) | Total(Rs.Crs.) | Complexity of the Instrument |
|---|---|---|---|---|---|---|
| 1 | Canara Bank | Term LoanSanctioned | _ | _ | 0.00 | Simple## |
| Total | 0.00 | 0.00 | 0.00 | |||
| TOTAL (Rupees Zero Crores Only) | ||||||
## BWR complexity levels are meant for educating investors. The BWR complexity levels are available at www.brickworkratings.com / download / ComplexityLevels.pdf. Investors queries can be sent to info@brickworkratings.com.
ANNEXURE-II
INSTRUMENT(NCD/Bonds/CP/FDs) DETAILS
| Instrument | Issue Date | Amount (Rs.Crs) | Coupon Rate (%) | Maturity Date | ISIN Particulars | Complexity of the Instrument |
|---|---|---|---|---|---|---|
| Nil | Nil | Nil | Nil | Nil | Nil | Nil |
ANNEXURE-III
List of entities consolidated
| Name of Entity | % Ownership | Extent of consolidation | Rationale for consolidation |
|---|---|---|---|
| Nil | Nil | Nil | Nil |
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About Brickwork RatingsBrickwork Ratings (BWR), a Securities and Exchange Board of India [SEBI] registered Credit Rating Agency and accredited by Reserve Bank of India [RBI], offers credit ratings of Bank Loan, Non- convertible / convertible / partially convertible debentures and other capital market instruments and bonds, Commercial Paper, perpetual bonds, asset-backed and mortgage-backed securities, partial guarantees and other structured / credit enhanced debt instruments, Security Receipts, Securitization Products, Municipal Bonds, etc. BWR has rated over 11,560 medium and large corporates and financial institutions’ instruments. BWR has also rated NGOs, Educational Institutions, Hospitals, Real Estate Developers, Urban Local Bodies and Municipal Corporations. BWR has Canara Bank, a leading public sector bank, as one of the promoters and strategic partner.
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