Afcons Infrastructure Limited — Credit Ratings, 01-07-2025: Credit Rating

ICRA has reaffirmed Afcons Infrastructure Limited’s credit ratings across various bank facilities, maintaining the long-term rating at [ICRA]A+ with a stable outlook and the short-term rating at [ICRA]A1. This action follows the company’s request to withdraw credit ratings on its commercial paper and bank loan facilities, pending completion of no-objection certificates (NOCs) from all lenders, with one bank’s NOC for ₹1,415 Cr still awaited. The reaffirmation reflects Afcons’ stable credit profile and financial position, supporting continued investor confidence and preserving the company’s borrowing cost advantage until the rating withdrawal is finalized.