NLC India credit rating actions were disclosed on August 10, 2026, with India Ratings & Research assigning and affirming ratings across the state-owned company’s borrowing instruments, according to a BSE filing. The rating agency assigned IND AAA/Stable to bank loan facilities of ₹1,102 crore while retaining existing ratings on non-convertible debentures, commercial papers and other bank facilities.

NLC India Limited, a Navratna Government of India enterprise, informed the exchanges about the review under Regulations 30 and 51 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The disclosure was submitted under BSE scrip code 513683 and NSE symbol NLCINDIA.

India Ratings reviews four borrowing categories

The rating review covers four separate categories with stated amounts ranging from ₹1,102 crore to ₹6,000 crore. India Ratings’ actions comprise one newly assigned rating and three affirmed ratings.

Instrument Amount Rating and outlook Action
Bank loan facilities ₹1,102 crore IND AAA/Stable Assigned
Non-convertible debenture ₹2,500 crore IND AAA/Stable Affirmed
Commercial Papers ₹6,000 crore IND A1+ Affirmed
Bank loan facilities ₹2,923 crore IND AAA/Stable/IND A1+ Affirmed

The ₹1,102 crore bank loan facilities are the only category for which the filing records an assigned rating. For the other three instrument categories, the agency affirmed the ratings already listed in the disclosure.

Long-term and short-term ratings retained

The non-convertible debenture amounting to ₹2,500 crore continues to carry IND AAA/Stable. The company’s commercial papers of ₹6,000 crore retain IND A1+, while ₹2,923 crore of bank loan facilities remain rated IND AAA/Stable/IND A1+.

The filing presents both long-term and short-term rating designations for the ₹2,923 crore bank facilities. It does not provide further commentary from India Ratings, details of individual borrowing tranches, maturity schedules or changes to the rated amounts.

NLC India submitted the information for the record of BSE and the National Stock Exchange of India. The filing was signed by the company secretary and compliance officer. NLC India’s registered office is in Kilpauk, Chennai, while its corporate office is located at Neyveli in Tamil Nadu’s Cuddalore district.

Source: BSE corporate announcement.