CARE downgrades Coastal Corporation bank facilities to CARE D from CARE BB
COASTCORP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CARE Ratings has downgraded Coastal Corporation bank facility ratings to CARE D from CARE BB (Stable). Long-term facilities of Rs 68.28 crore and combined long-term/short-term facilities of Rs 273.50 crore were both downgraded. CARE D is the lowest rating category, indicating default or near default. Reasons cited include weaker operational and financial performance in FY26 and delays in FY26 annual report. Total rated facilities stand at Rs 341.78 crore across Bank of India, Union Bank, DBS and HDFC Bank.
Severely negative. CARE D signals default risk, likely higher borrowing costs, possible loan acceleration, and significant pressure on share price and investor confidence.