Asian Granito India Limited has informed the Exchange about Credit Rating
ASIANTILES · price
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Awaiting price reaction for this filing.
Asian Granito India Limited announced that Infomerics Valuation and Rating Limited has reaffirmed its credit ratings on bank facilities following NCLT approval of a composite scheme of arrangement involving multiple group entities. The company's long-term facilities of Rs. 145 crore retain the IVR BBB+/Stable rating, indicating moderate degree of safety with stable outlook. Short-term facilities of Rs. 10 crore continue to carry the IVR A2 rating, indicating strong degree of safety for timely payment. Total rated facilities stand at Rs. 155 crore, drawn from HDFC Bank, IDBI Bank, and IndusInd Bank. The rating is valid until May 29, 2026, and the reaffirmation was triggered by the demerger/restructuring scheme cleared by NCLT rather than any deterioration or improvement in credit profile.
This is a neutral event for shareholders — the rating remains unchanged and there is no signal of credit quality improvement or deterioration. BBB+ is an investment-grade rating but sits at the lower end of the investment-grade spectrum, so investors should monitor the company's debt levels and operational performance going forward.