Isgec Hitachi Zosen credit ratings upgraded to stable outlook by ICRA

ICRA Limited has upgraded the long-term credit ratings for Isgec Hitachi Zosen Limited's bank facilities, amounting to INR 905 crores. The ratings for both fund-based/non-fund based and unallocated limits have been upgraded to [ICRA]A (Stable) from [ICRA]A- (Positive), with the short-term rating reaffirmed at [ICRA]A2+. The change signifies a shift in outlook from positive to stable across all rated instruments.

The total rated facilities for Isgec Hitachi Zosen Limited include INR 100 crores for fund-based cash credit, INR 100 crores for non-fund based working capital, and INR 2.5 crores for fund-based term loans. Additional facilities, including INR 890 crores for fund-based/non-fund based — others and INR 15 crores for unallocated limits, also received an upgrade to [ICRA]A (Stable)/[ICRA]A2+. The effective date for these revised ratings is September 02, 2025.