Bhagiradha Chemicals & Industries Limited has informed the Exchange about Credit Rating
BHAGCHEM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
India Ratings and Research (Ind-Ra) has affirmed Bhagiradha Chemicals' credit rating on its bank loan facilities at IND BBB+ (long-term) and IND A2+ (short-term), with the total rated facility size being INR 1,730 million. While the rating itself was reaffirmed, the outlook has been revised from Positive to Stable, suggesting the agency no longer expects near-term improvement in the company's credit profile. The rated facilities include fund-based and non-fund-based working capital limits from SBI, Axis Bank, RBL Bank, and ICICI Bank, along with a term loan from Axis Bank and proposed bank loan facilities. The rating letter was dated March 9, 2026, and the intimation to the exchanges was made on March 10, 2026.
The rating affirmation is reassuring as the company retains its investment-grade status, but the outlook downgrade from Positive to Stable is mildly negative — it signals softer near-term expectations and removes the possibility of an imminent rating upgrade, which may weigh slightly on sentiment.