Ramco Systems gets ICRA rating upgrade on ₹150 crore bank facilities

Credit rating
Computers - Software

Blacklitt Research22 October 20262 min read

Ramco Systems (NSE: RAMCOSYS) had its bank facility ratings upgraded by ICRA on a total of ₹150 crore, it said in a filing on 22 Oct 2026. The Long Term Fund Based Cash Credit facility of ₹15 crore moved from BBB+(Stable) to A-(Stable). The total rated amount is unchanged.

Key highlights

Total rated bank facilities: ₹150 crore, unchanged
Long Term Fund Based Cash Credit: ₹15 crore, BBB+(Stable) to A-(Stable)
Short Term Fund Based: ₹75 crore reduced to ₹60 crore, A2 to A2+
Unallocated limit: ₹39.50 crore raised to ₹54.50 crore

The rating action in numbers

Item	Detail
Rating agency	ICRA Limited
Instrument	Bank facilities totalling ₹150 crore
Action	Upgrade of ratings on all listed facilities
Long Term Fund Based Cash Credit	₹15 crore; BBB+(Stable) to A-(Stable)
Short Term Fund Based	₹75 crore to ₹60 crore; A2 to A2+
Short Term Non-Fund Based	₹20.50 crore; A2 to A2+
Long Term / Short Term Unallocated	₹39.50 crore to ₹54.50 crore; BBB+ (Stable)/A2 to A-(Stable)/A2+
Rating assigned on	16 Oct 2026
Rating communication dated	22 Oct 2026

Rating changes across the facilities

ICRA's Rating Committee upgraded the ratings on the Rs.150.00 crore bank facilities of Ramco Systems Limited, and the total rated amount stays at ₹150 crore before and after the revision. The Long Term Fund Based Cash Credit amount of ₹15 crore is unchanged, and only its rating moved, from BBB+(Stable) to A-(Stable).

The Short Term Fund Based limit was cut by ₹15 crore to ₹60 crore and rated A2+ instead of A2. The unallocated limit rose by ₹15 crore to ₹54.50 crore, carrying the A-(Stable)/A2+ rating. The filing does not give a reason for the change in these two amounts.

What ICRA says about the rating

ICRA says the rating is subject to review on new information and becomes due for surveillance within one year from the rating communication letter.

ICRA asks the company to inform it promptly of any default or delay in repayment, any debt rescheduling proposal, or any significant development affecting its debt servicing capability.

What the ICRA upgrade means for Ramco Systems' shareholders

The upgrade changes the ratings on the company's bank facilities. It does not change the total amount rated, which stays at ₹150 crore. The filing does not say the reason ICRA gave for the upgrade, whether the company has drawn on these facilities, or what the bank lenders are.

The rating is due for surveillance within one year from the 22 Oct 2026 communication letter.

Reference: Original filing (PDF)

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