Chembond Material Technologies Limited has informed the Exchange about General Updates
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On the reaction day the stock moved 0.9 pts less than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Chembond Material Technologies informed the exchanges that CRISIL has downgraded its credit ratings on Rs. 12 crore of total bank loan facilities. The long-term rating has been cut from CRISIL BBB+ to CRISIL BBB/Stable, while the short-term rating has been revised from CRISIL A2 to CRISIL A3+. Notably, both ratings have been removed from 'Rating Watch with Negative Implications,' signalling that the immediate negative pressure has eased. CRISIL attributed the downgrade to the demerger of the Water Technologies and Construction Chemicals businesses from the group, approved by the NCLT Mumbai Bench.
While the downgrade reflects a smaller, less diversified business profile after the demerger, the removal from negative watch is a mild positive. Shareholders should expect modestly higher borrowing costs on bank facilities, though the impact is limited given the relatively small Rs. 12 crore facility size.