Letter for reaffirmation of credit rating of Ecosis Limited, wholly owned subsidiary company is attached.

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₹42.59

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₹42.01

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AI summary

Filatex India Limited disclosed that India Ratings & Research (Fitch Group) has reaffirmed its IND A+ rating with Stable outlook for a INR 2,000 million term loan of Ecosis Limited (formerly Texfil Private Limited), the company's wholly owned subsidiary. The rating was reaffirmed, meaning the creditworthiness of the subsidiary's debt remains unchanged. This is a routine regulatory disclosure under SEBI LODR Regulations. The reaffirmation suggests the subsidiary's financial health and debt servicing capability remain satisfactory.

Likely market impact

The reaffirmation of an investment-grade rating (IND A+) for Ecosis Limited's term loan is a positive signal, indicating stable credit health of Filatex's subsidiary. This should have minimal negative impact on Filatex's stock and may reassure investors about the group's debt management.