DPSC Ltd credit rating cut to lowest BWR D after loan default under insolvency

Rating DowngradedRating JunkLoan NpaCredit & Debt View source PDF Explain this filing

DPSCLTD · price

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Nifty Microcap 250market · in no size index; the smallest one is used-1.4%+1.4% vs market

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AI summary

Brickwork Ratings has downgraded India Power Corporation Limited (formerly DPSC Limited) bank loan ratings to BWR D, the lowest default category, from BWR BB and BWR A4. The downgrade covers Rs. 102.83 crore fund based and Rs. 4.15 crore non fund based facilities, totaling Rs. 106.98 crore. Reason: default on May 2026 interest payment on a term loan. Company is already under CIRP since 15 May 2026 after SBI petition.

Likely market impact

Rating at default category signals severe financial distress. Shareholders face high risk as company undergoes insolvency resolution with lenders.