India Ratings revises outlook to Positive and upgrades short-term rating
CARRARO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.6 pts less than Nifty Microcap 250 and 0.6 pts less than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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India Ratings and Research has revised the outlook on Carraro India's bank loan facilities to Positive from Stable. The long-term rating was affirmed at IND A+, and the short-term rating was upgraded to IND A1+. The long-term facility size was reduced from 1,292.10 million to 846.25 million. A proposed term facility of 800 million was newly assigned IND A+/Positive. Fund-based working capital of 1,490 million had its outlook upgraded, and non-fund-based working capital of 580 million was upgraded to IND A1+.
Positive outlook upgrade signals stronger credit profile, likely lower borrowing costs and improved lender confidence going forward.