Based on the corporate guarantee provided by L G Balakrishnan and Bros Limited (LGB), ICRA has assigned ¯LA(SO) (pronounced L A structured obligation) rating to Rs. 40 crore term loans of LGB Forge Limited (LGBFL). The outlook on the rating is stable. The letters SO in parenthesis suffixed to a rating symbol stand for Structured Obligation. An SO rating is specific to the rated issue, its terms, and its structure. SO ratings do not represent ICRA‘s opinion on the general credit quality of the issuers concerned. The ratings are solely based on the strength of the corporate guarantee extended by LGB, the bank limits of which are rated LA (Stable) and A1. The assigned ratings addresses the servicing of the rated facilities to happen as per the terms of the underlying loan and the guarantee arrangement and the rating assumes that the guarantee will be duly invoked, as per the terms of the underlying loan and guarantee agreements, in case there is a default in payment by the borrower.