BirlaNu’s ICRA ratings reaffirmed at AA- (Negative) as rated limits are enhanced
- Credit rating
- Building Materials
BirlaNu Limited, formerly HIL Limited, has told the exchanges on 7 Oct 2026 that ICRA, by a letter dated 6 Oct 2026, reaffirmed its [ICRA]AA- (Negative)/[ICRA]A1+ ratings and assigned them to enhanced amounts. The long-term fund-based term loan is now ₹1,050 crore, up from ₹344.09 crore, and fund and non-fund-based limits are ₹452.50 crore, up from ₹365 crore. Short-term non-fund-based limits are ₹250 crore, up from ₹108 crore.
Inference
The outlook is Negative and is unchanged, which means ICRA still sees a risk of a downgrade. The larger term loan limit shows more long-term borrowing is planned, but the filing does not state what it will fund.
Reference: Original filing (PDF)
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