Bhandari Hosiery Exports Limited has informed the Exchange about Credit Rating- Revision
BHANDARI · price
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Bhandari Hosiery Exports Limited has received an upgrade in its credit ratings from CRISIL Ratings, effective May 6, 2025. The long-term rating on fund-based facilities has been revised upward from CRISIL BBB-/Stable to CRISIL BBB/Stable, while the short-term rating on non-fund-based facilities has moved up from CRISIL A3 to CRISIL A3+. The total bank loan facilities covered under this rating stand at Rs. 125.91 crore, spread across lenders like SBI, HDFC Bank, Union Bank, and South Indian Bank. The outlook on the long-term rating continues to be Stable, indicating CRISIL's view that the improvement is sustainable. BBB is still considered investment grade but on the lower end, and A3+ is a decent short-term rating.
This is a positive development for shareholders — the upgrade signals improved creditworthiness, which could lower future borrowing costs and enhance the company's standing with lenders and trade partners. Short-term, the stock may see a modest positive reaction, though the rating was already BBB/Stable/A3+ since April 2025, so much of the upgrade may already be priced in.