Chembond Material Technologies Limited has informed the Exchange about Credit Rating- Revision
CHEMBOND · price
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CRISIL has downgraded Chembond Material Technologies' credit ratings on its total bank loan facilities of Rs. 12 crore. The long-term rating has been revised from BBB+ to BBB/Stable, and the short-term rating from A2 to A3+. Both ratings have been removed from 'Rating Watch with Negative Implications'. The downgrade follows the demerger of the company's Water Technologies and Construction Chemicals businesses from the group, which was approved by the NCLT Mumbai Bench.
The downgrade signals reduced financial strength following the demerger, which may increase borrowing costs for the company. However, the removal from negative watch provides some near-term stability. Shareholders should expect limited immediate impact on stock price as this largely reflects an expected post-demerger reassessment.