ICRA reaffirms Tejas Networks' ratings, assigns new facility rating

Tejas Networks [BSE:TEJASNET] announced that ICRA has reaffirmed its long-term rating of [ICRA]A+(Stable) and short-term rating of [ICRA]A1+ for fund-based and non-fund-based limits. The reaffirmation follows an enhancement of the company's facilities from INR 4,200.00 to INR 6,000.00. ICRA has also assigned a rating of [ICRA]A+(Stable) to a new INR 400.00 long-term fund-based term loan. The rating agency noted the ratings are subject to review based on new information or circumstances impacting the company's ability to service its debt. The rated bank facilities include those from Kotak Mahindra Bank, Citibank, HDFC Bank, and Standard Chartered Bank.