Andhra Petrochemicals Ltd has informed BSE regarding "Credit Rating".
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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.
ICRA has revised the credit ratings on Andhra Petrochemicals' long-term credit facilities. The Long Term Unallocated Limits of Rs.57.18 crores and Long Term Fund-based Working Capital Facilities of Rs.35.00 crores have been downgraded from [ICRA]A- (Negative) to [ICRA]BBB+ (Negative). The Short Term Non-fund based Working Capital Facilities of Rs.2.00 crores were reaffirmed at [ICRA]A2+. Total credit facilities amount to Rs.94.18 crores. The Negative outlook on the long-term ratings signals continued pressure on the company's credit profile.
The downgrade to BBB+ with a Negative outlook signals weakening creditworthiness and may lead to higher borrowing costs. Shareholders should view this as a negative development reflecting increased financial risk for the company.