Bhartiya International Limited has informed the Exchange about Credit Rating- Revision
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Awaiting price reaction for this filing.
India Ratings and Research (Ind-Ra) has revised the credit ratings of Bhartiya International Limited for its bank loan facilities of INR 6,470.70 million. The long-term rating of IND BBB has been affirmed with a Stable outlook, and the short-term rating of IND A2 has also been affirmed. Importantly, the rating has been taken OFF Rating Watch with Negative Implications, signalling that the agency no longer sees immediate downside risk to the credit profile. The rating rationale is available on the company's website and has been submitted to the stock exchanges.
This is a mildly positive development for shareholders and lenders — the rating itself was maintained at BBB (investment grade) and the prior negative overhang has been removed, reducing near-term refinancing and borrowing cost concerns. Investors should note that the underlying rating was affirmed rather than upgraded, so there is no strong positive catalyst for the stock from this announcement.