Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that India Ratings and Research has revised its rating from IND AA-/Negative/IND A1+ to IND AA- with a Negative Outlook. This is for your information and necessary records.
CCL · 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 has affirmed CCL Products' long-term issuer rating at IND AA- with a Negative Outlook, keeping the rating unchanged from its earlier status. All existing instruments — including fund-based working capital limits (INR 6,000 million), a term loan (INR 1,060 million, reduced from INR 1,350 million), and non-fund-based working capital limits (INR 400 million) — have been affirmed. Additionally, new credit facilities totaling about INR 2,250 million (a fund-based limit of INR 1,250 million, a proposed working capital limit of INR 950 million, and a non-fund-based limit of INR 50 million) have been assigned ratings for the first time. The Negative Outlook, which was already in place earlier, has been retained, signalling that India Ratings still sees some concerns despite the company retaining its strong investment-grade rating.
Shareholders should note that this is essentially a status-quo event — the rating is affirmed, not downgraded — and the Negative Outlook was already in place, so there is no new negative surprise. The new credit lines assigned ratings suggest the company is expanding or refreshing its banking relationships, which is neutral to mildly positive for liquidity.