Crisil rates Lloyds Metals and Energy's ₹17,112 crore bank loans AA/Stable

Credit rating
Metals and energy

Blacklitt Research29 October 20263 min read

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Lloyds Metals and Energy (NSE: LLOYDSME) had its bank loan facilities enhanced to ₹17,112 crore from ₹8,500 crore by Crisil Ratings Limited, it said in a filing on 29 Oct 2026. Crisil reaffirmed the long term rating at Crisil AA/Stable and the short term rating at Crisil A1+ on those facilities.

Key highlights

Bank loan facilities rated: ₹17,112 crore, up from ₹8,500 crore
Long term rating on bank loans: Crisil AA/Stable, reaffirmed
Debentures: ₹2,500 crore reaffirmed; ₹1,550 crore and ₹2,400 crore assigned at Crisil AA/Stable
Revalidation: a fresh letter is needed if the issue is not made within 180 days of the letter date of 29 Oct 2026

The rating action in numbers

Item	Detail
Rating agency	Crisil Ratings Limited
Bank loan facilities	₹17,112 crore, enhanced from ₹8,500 crore
Long term rating	Crisil AA/Stable, reaffirmed
Short term rating	Crisil A1+, reaffirmed
Non-convertible debentures, ₹2,500 crore	Crisil AA/Stable, reaffirmed
Non-convertible debentures, ₹1,550 crore	Crisil AA/Stable, assigned
Non-convertible debentures, ₹2,400 crore	Crisil AA/Stable, assigned (cover letter only)
Letter date	29 Oct 2026

Bank loan facilities rated at ₹17,112 crore

The rated bank loan facilities are ₹17,112 crore, up from ₹8,500 crore before this action. Annexure 1 of the rating letter lists 21 bank-wise facility lines, including external commercial borrowings, proposed term loans, a proposed working capital facility, and term loans and working capital facilities from several banks, and prints the total as ₹17,112 crore.

Crisil says a fresh revalidation letter will be necessary if the company does not avail the proposed facilities within 180 days from the date of the letter.

Three debenture ratings, one without a rating letter in the filing

The cover letter lists debentures of ₹2,500 crore (reaffirmed), ₹1,550 crore (assigned) and ₹2,400 crore (assigned), all at Crisil AA/Stable. Crisil letters for the ₹2,500 crore and ₹1,550 crore debentures are enclosed; the enclosures hold no separate letter for the ₹2,400 crore issue.

Crisil says AA/Stable, pronounced double A with stable outlook, means securities with this rating have a high degree of safety regarding timely servicing of financial obligations and carry very low credit risk. For the ₹1,550 crore debentures, the letter asks the company to send the instrument details once the issue is placed, and the enclosed details form is blank.

What the ratings mean for Lloyds Metals and Energy's shareholders

The ratings cover the company's bank loans and debentures, and the filing gives no rating on its equity shares. Crisil says it keeps the ratings under continuous surveillance and may withdraw or revise a rating or outlook at any time on new information or other circumstances it believes may have an impact on the rating.

The filing does not say why the bank facilities were enhanced, when the debentures will be issued, or their coupon, maturity and tenor. The next dated step in the filing is the 180-day window from the 29 Oct 2026 letters for availing the facilities or making the issues.

Reference: Original filing (PDF)

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