Beardsell Limited has informed the Exchange about Credit Rating
BEARDSELL · price
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Awaiting price reaction for this filing.
ICRA Limited has kept the credit rating for Beardsell's Rs. 5.0 crore Fixed Deposit programme in the 'Issuer Not Cooperating' category with a rating of [ICRA]B+ (Stable). This is because the company did not submit the required information to ICRA for their periodic review. The company clarified that it switched its credit rating agency from ICRA to CARE Ratings back in 2024. Under CARE, the Fixed Deposit has a much better rating of CARE BBB- with a Positive outlook, assigned in August 2024. Beardsell stated its operations are normal, financial health is sound, and the ICRA action is purely procedural under ICRA's own regulatory guidelines.
Retail shareholders holding Beardsell's Fixed Deposit should note that the active and current rating from CARE is BBB- (Positive), which is significantly better than the stale ICRA B+ tag. The ICRA action is procedural, but the contrasting rating scales may cause short-term confusion or negative sentiment in the stock until investors read through the clarification.