Agarwal Industrial Corporation Limited has informed the Exchange about Credit Rating
AGARIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CRISIL has reviewed the credit rating on Agarwal Industrial Corporation's bank facilities totaling Rs. 240 crore. The long-term rating of 'CRISIL A' has been reaffirmed, but the outlook has been revised from 'Stable' to 'Negative'. The rating covers working capital facilities from five lenders: RBL Bank (Rs. 25.5 Cr), HDFC Bank (Rs. 50 Cr), Kotak Mahindra Bank (Rs. 69.5 Cr), IDFC First Bank (Rs. 25 Cr), and Axis Bank (Rs. 70 Cr). A negative outlook signals that CRISIL sees at least a one-in-three chance of a rating downgrade over the next 12-18 months unless business and financial metrics improve.
The rating grade itself was maintained, so there is no immediate alarm, but the negative outlook is a warning flag for shareholders. Investors should watch for the next rating review; a downgrade could raise the company's borrowing costs and weigh on the stock sentiment.