Withdrawal of Credit Rating by ICRA Limited
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
AG Ventures Limited (formerly Oriental Carbon and Chemicals Limited) has informed BSE that ICRA Limited has withdrawn the company's credit rating of [ICRA]A-(Stable)/[ICRA]A2+ on Rs. 50 crore of fund-based and non-fund-based facilities. The withdrawal was done at the company's own request and was based on a no-dues certificate received from the bankers, indicating the company has no outstanding obligations under these facilities. This was a routine procedural step and not driven by any deterioration in the company's credit quality.
This is a neutral-to-positive development — it indicates the company has cleared its bank borrowings and no longer requires the rating. Shareholders should not read this as a credit quality concern, as the company itself requested the withdrawal after settling dues.