Ashoka Buildcon ICRA withdraws A1+ short-term debt rating at company's request
- Credit rating
- Construction
Reviewed byRachit TripathiBlacklitt Research
Ashoka Buildcon (NSE: ASHOKA) said in a filing on 31 Oct 2026 that ICRA Limited has withdrawn the short-term debt rating of [ICRA] A1+ on the company's request. The company says its debt and other instruments continue to be rated by other credit rating agencies.
Key highlights
- Rating withdrawn: [ICRA] A1+ short-term debt
- Withdrawal requested by the company
- Commercial paper debt codes: 730851, 731112, 731487, 732069, 732127, 732724
The rating action in numbers
| Item | Detail |
|---|---|
| Agency | ICRA Limited |
| Instrument | Short-term debt, commercial paper |
| Rating withdrawn | [ICRA] A1+ |
| Earlier action | Reaffirmed, then withdrawn |
| Reason for withdrawal | Requested by the company, in line with ICRA's policy on withdrawal of credit ratings |
| Debt codes (CPs) | 730851, 731112, 731487, 732069, 732127, 732724 |
What was withdrawn
ICRA had reaffirmed the short-term debt rating of Ashoka Buildcon at [ICRA] A1+ and then withdrew it. The rating covers the company's commercial paper, identified by six CP debt codes in the filing.
ICRA withdrew the rating at the company's request. The company says the step is in line with ICRA's policy on withdrawal of credit ratings.
Other ratings remain in place
The company says its debt and other instruments continue to be rated by other credit rating agencies. The filing does not name those agencies or their current ratings.
Ashoka Buildcon is an infrastructure construction company. Its market value was ₹2,706 crore at the 30 Oct 2026 close of ₹96.39 a share, and its consolidated total income for Q1 FY27 was ₹1,533.72 crore, down 20.8% a year earlier.
What the rating withdrawal means for Ashoka Buildcon's shareholders
The withdrawal removes one short-term debt rating from the company's rated instruments, and the company says other instruments remain rated. The filing does not say why the company asked for withdrawal, when it took effect, or whether it affects the company's ability to raise short-term debt or the terms of its commercial paper. Those points are not known from the filing.
Filed with BSE on . Reference: Original filing (PDF)
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