INCREDIBLE INDUSTRIES LIMITED has informed the Exchange about Credit Rating- Revision

Rating DowngradedRating Watch NegativeCredit & Debt View source PDF

INCREDIBLE · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

+5.1%1-day move

₹34.73

prior close

₹34.10

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

+0.0+1.5+1.5+2.6+5.1+5.1+6.0+1.4+3.5-0.6+0.8+1.6+1.3-4.3

Up moveDown movePending

AI summary

Infomerics Valuation and Rating Private Limited (IVRPL) downgraded the credit ratings for Incredible Industries Limited's banking facilities due to non-submission of requisite information. The long-term rating was lowered from IVR BBB/ Stable to IVR BBB-/ Negative, while the short-term rating was downgraded from IVR A3+ to IVR A3. Both revised ratings carry an 'Issuer Not Cooperating' status. The company clarified it maintains a valid credit rating from Acuité Ratings & Research Limited and is in the process of withdrawing its ratings from IVRPL pending a No Objection Certificate from lenders.

Likely market impact

The rating downgrade signals non-compliance with rating agency requirements and may raise concerns about transparency, though the company claims financial operations remain unaffected due to its alternate rating from Acuité. The 'Not Cooperating' tag could negatively impact investor sentiment and borrowing costs.