Dharmaj Crop Guard Limited has informed the Exchange about Credit Rating
DHARMAJ · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CRISIL Ratings has reaffirmed and subsequently withdrawn the credit ratings assigned to Dharmaj Crop Guard's bank loan facilities totaling Rs. 237.85 crore. The Long Term Rating was BBB+/Stable and Short Term Rating was A2, both investment-grade ratings. The withdrawal was done at the company's request after submission of No Objection Certificates. This action follows the company's earlier intimation about obtaining credit ratings from CARE Ratings Limited, suggesting the company is transitioning its rating agency. All bank facilities across HDFC Bank and State Bank of India have been withdrawn from CRISIL surveillance.
Neutral for shareholders - the ratings were reaffirmed at investment grade before withdrawal, indicating no credit quality concerns. The company appears to be consolidating ratings with another agency (CARE Ratings), which is a routine administrative change.